Organovo (NASDAQ:ONVO) Earns Sell Rating from Analysts at StockNews.com

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

Organovo Stock Performance

Organovo stock opened at $0.51 on Monday. The firm has a 50 day moving average price of $0.57 and a 200 day moving average price of $0.83. Organovo has a fifty-two week low of $0.49 and a fifty-two week high of $2.05. The company has a market capitalization of $7.29 million, a PE ratio of -0.31 and a beta of 0.62.

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) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 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.

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.