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

Analysts at StockNews.com began coverage on shares of Organovo (NASDAQ:ONVO) in a report released on Thursday. The firm set a “sell” rating on the medical research company’s stock.

Organovo Stock Performance

NASDAQ:ONVO opened at $0.49 on Thursday. Organovo has a 1 year low of $0.32 and a 1 year high of $1.74. The stock has a market cap of $7.53 million, a price-to-earnings ratio of -0.46 and a beta of 0.53. The business has a fifty day moving average of $0.44 and a 200-day moving average of $0.61.

Hedge Funds Weigh In On 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 Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing. Institutional investors own 8.23% of the company’s stock.

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.