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

Equities research analysts at StockNews.com started coverage on shares of Organovo (NASDAQ:ONVO) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the medical research company’s stock.

Organovo Stock Down 5.8 %

NASDAQ:ONVO opened at $0.47 on Tuesday. Organovo has a 52 week low of $0.44 and a 52 week high of $2.05. The company has a fifty day simple moving average of $0.56 and a two-hundred day simple moving average of $0.82. The company has a market cap of $6.72 million, a price-to-earnings ratio of -0.29 and a beta of 0.62.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 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 reporting period. Institutional investors and hedge funds 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.