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

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

Organovo Price Performance

Shares of NASDAQ:ONVO opened at $0.57 on Thursday. The company’s fifty day moving average price is $0.69 and its 200-day moving average price is $0.90. The firm has a market capitalization of $8.13 million, a price-to-earnings ratio of -0.35 and a beta of 0.68. Organovo has a one year low of $0.50 and a one year high of $2.05.

Organovo (NASDAQ:ONVO) last posted its earnings results on Friday, May 31st. The medical research company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.13. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.08 million. As a group, equities research analysts expect that Organovo will post -0.96 EPS for the current year.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo as of its most recent filing with the Securities and Exchange Commission (SEC). 8.23% of the stock is owned by institutional investors and hedge funds.

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.