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

Equities research analysts at StockNews.com assumed coverage on shares of Organovo (NASDAQ:ONVO) in a report released on Saturday. The brokerage set a “sell” rating on the medical research company’s stock.

Organovo Trading Down 6.2 %

ONVO stock opened at $0.44 on Friday. The stock has a market cap of $6.35 million, a price-to-earnings ratio of -0.27 and a beta of 0.61. The company’s 50 day moving average is $0.51 and its 200 day moving average is $0.73. Organovo has a 1-year low of $0.43 and a 1-year high of $2.05.

Organovo (NASDAQ:ONVO) last released its quarterly earnings data on Monday, August 5th. The medical research company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.15. The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.03 million. As a group, sell-side analysts forecast that Organovo will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC purchased a new stake in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter. 8.23% of the stock is owned by institutional investors and hedge funds.

Organovo Company Profile

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.