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

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

Organovo Price Performance

NASDAQ ONVO opened at $0.38 on Wednesday. The firm has a market cap of $5.90 million, a PE ratio of -0.36 and a beta of 0.56. Organovo has a one year low of $0.32 and a one year high of $1.74. The stock’s 50 day simple moving average is $0.40 and its 200 day simple moving average is $0.49.

Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Friday, November 8th. The medical research company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.12. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.04 million. Organovo had a negative return on equity of 249.28% and a negative net margin of 12,176.70%. As a group, equities analysts expect that Organovo will post -0.77 earnings per share for the current year.

Institutional Trading of 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) during 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 reporting period. 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.