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

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

Organovo Price Performance

ONVO opened at $0.45 on Monday. The stock has a market capitalization of $6.98 million, a price-to-earnings ratio of -0.43 and a beta of 0.56. The business has a fifty day moving average price of $0.41 and a 200 day moving average price of $0.52. Organovo has a 12 month low of $0.32 and a 12 month high of $1.74.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter. 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.