Organovo (NASDAQ:ONVO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research report sent to investors on Friday. The firm issued a sell rating on the medical research company’s stock.

Organovo Stock Down 0.8 %

Organovo stock opened at $0.40 on Friday. Organovo has a 12-month low of $0.32 and a 12-month high of $1.74. The firm’s fifty day moving average is $0.43 and its 200 day moving average is $0.58. The company has a market capitalization of $6.22 million, a PE ratio of -0.38 and a beta of 0.53.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new stake in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo as of its most recent SEC filing. 8.23% of the stock is currently owned by hedge funds and other institutional investors.

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.