Organovo (NASDAQ:ONVO) Receives New Coverage from Analysts at StockNews.com

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

Organovo Price Performance

ONVO stock opened at $0.51 on Monday. Organovo has a 1 year low of $0.49 and a 1 year high of $2.05. The firm has a market capitalization of $7.29 million, a P/E ratio of -0.31 and a beta of 0.62. The business’s 50-day moving average is $0.57 and its two-hundred day moving average is $0.83.

Institutional Investors Weigh In On Organovo

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

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.