StockNews.com Initiates Coverage on Organovo (NASDAQ:ONVO)

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

Organovo Stock Down 2.2 %

Shares of ONVO stock opened at $0.36 on Friday. The firm has a market cap of $5.52 million, a P/E ratio of -0.34 and a beta of 0.53. The business has a 50-day moving average price of $0.41 and a two-hundred day moving average price of $0.53. 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 purchased a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.