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

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research report report published on Tuesday. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Trading Down 10.2 %

Shares of Organovo stock opened at $0.34 on Tuesday. The stock has a market capitalization of $5.24 million, a price-to-earnings ratio of -0.36 and a beta of 0.62. Organovo has a twelve month low of $0.32 and a twelve month high of $1.74. The business’s 50 day simple moving average is $0.46 and its 200-day simple moving average is $0.65.

Hedge Funds Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent 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 about 6.46% of Organovo as of its most recent SEC filing. Institutional investors and hedge funds 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.