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

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

Organovo Stock Performance

NASDAQ ONVO opened at $0.37 on Friday. The firm has a market cap of $5.69 million, a PE ratio of -0.35 and a beta of 0.53. Organovo has a one year low of $0.32 and a one year high of $1.74. The firm’s fifty day moving average is $0.41 and its two-hundred day moving average is $0.53.

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 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 approximately 6.46% of Organovo as of its most recent SEC filing. Institutional investors and hedge funds 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.