Organovo (NASDAQ:ONVO) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research note issued on Friday. The brokerage set a “sell” rating on the medical research company’s stock.

Organovo Stock Down 1.3 %

Shares of Organovo stock opened at $0.46 on Friday. The firm has a market cap of $6.59 million, a price-to-earnings ratio of -0.28 and a beta of 0.61. Organovo has a 52-week low of $0.43 and a 52-week high of $2.05. The company’s 50-day simple moving average is $0.52 and its 200-day simple moving average is $0.75.

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

Institutional Investors Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC purchased a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo as of its most recent SEC filing. 8.23% of the stock is currently owned by hedge funds and other 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.