Organovo (NASDAQ:ONVO) Coverage Initiated at StockNews.com

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

Organovo Stock Down 1.7 %

Shares of NASDAQ:ONVO opened at $0.46 on Friday. The company has a market cap of $6.64 million, a P/E ratio of -0.29 and a beta of 0.61. Organovo has a 52 week low of $0.43 and a 52 week high of $2.05. The company has a 50-day moving average price of $0.52 and a 200 day moving average price of $0.74.

Organovo (NASDAQ:ONVO) last posted its quarterly earnings results on Monday, August 5th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.15. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.03 million. Analysts expect that Organovo will post -0.96 EPS for the current year.

Institutional Investors Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC acquired a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 reporting period. 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.