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

Research analysts at StockNews.com initiated 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 Up 2.8 %

Organovo stock opened at $0.47 on Friday. The company has a market capitalization of $7.15 million, a PE ratio of -0.34 and a beta of 0.62. The firm’s fifty day moving average is $0.50 and its 200 day moving average is $0.70. Organovo has a 12-month low of $0.40 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.15. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.03 million. Sell-side analysts expect that Organovo will post -0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC purchased a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 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.