StockNews.com Begins Coverage on Organovo (NASDAQ:ONVO)

StockNews.com began coverage on shares of Organovo (NASDAQ:ONVO) in a report published on Sunday morning. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Trading Down 4.3 %

Shares of ONVO opened at $0.40 on Friday. The firm has a market capitalization of $6.18 million, a P/E ratio of -0.29 and a beta of 0.62. The stock’s fifty day simple moving average is $0.48 and its 200 day simple moving average is $0.69. Organovo has a twelve month low of $0.39 and a twelve month high of $2.05.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings results on Monday, August 5th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.15. The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.03 million. Sell-side analysts predict that Organovo will post -0.96 earnings per share for the current year.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo at the end of the most recent quarter. Institutional investors and hedge funds own 8.23% of the company’s stock.

About Organovo

Organovo Holdings, Inc, a biotechnology company, focuses on developing 3D tissues that recapitulate key aspects of human disease. Its 3D human tissue platform includes its proprietary NovoGen Bioprinters, which are automated devices that enable the fabrication of 3D living tissues comprised mammalian cells; and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture.