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

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

Organovo Trading Down 0.8 %

Shares of ONVO stock opened at $0.40 on Friday. The firm has a market capitalization of $6.22 million, a PE ratio of -0.38 and a beta of 0.53. The firm has a fifty day simple moving average of $0.43 and a two-hundred day simple moving average of $0.58. Organovo has a 12 month low of $0.32 and a 12 month high of $1.74.

Institutional Trading of Organovo

A hedge fund recently bought a new stake 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 Form 13F filing 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 about 6.46% of Organovo as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 8.23% of the company’s stock.

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.