Organovo (NASDAQ:ONVO) Now Covered by StockNews.com

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

Organovo Stock Up 1.2 %

Shares of NASDAQ:ONVO opened at $0.47 on Wednesday. The firm has a 50-day simple moving average of $0.54 and a 200 day simple moving average of $0.79. Organovo has a fifty-two week low of $0.43 and a fifty-two week high of $2.05. The company has a market cap of $6.70 million, a PE ratio of -0.29 and a beta of 0.61.

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

Institutional Trading of Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC acquired a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo at the end of the most recent quarter. 8.23% of the stock is owned by institutional investors.

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.