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

StockNews.com started coverage on shares of Organovo (NASDAQ:ONVO) in a research note issued to investors on Wednesday morning. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Trading Up 2.0 %

NASDAQ:ONVO traded up $0.01 during trading hours on Wednesday, hitting $0.55. 38,124 shares of the stock traded hands, compared to its average volume of 502,395. The firm has a 50 day moving average price of $0.73 and a 200 day moving average price of $0.92. Organovo has a fifty-two week low of $0.50 and a fifty-two week high of $2.05. The firm has a market cap of $7.88 million, a price-to-earnings ratio of -0.34 and a beta of 0.68.

Organovo (NASDAQ:ONVO) last posted its quarterly earnings results on Friday, May 31st. The medical research company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.13. The company had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.08 million. Research analysts predict that Organovo will post -1.4 EPS for the current year.

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.