Organovo (NASDAQ:ONVO) Coverage Initiated at StockNews.com

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

Organovo Stock Performance

Shares of ONVO stock opened at $0.47 on Tuesday. The stock has a market capitalization of $6.69 million, a price-to-earnings ratio of -0.29 and a beta of 0.62. Organovo has a one year low of $0.43 and a one year high of $2.05. The company’s 50-day simple moving average is $0.55 and its 200-day simple moving average is $0.81.

Hedge Funds Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors 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.