StockNews.com Begins Coverage on Organovo (NASDAQ:ONVO)

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

Organovo Price Performance

Shares of NASDAQ ONVO opened at $0.44 on Tuesday. The business has a fifty day simple moving average of $0.56 and a 200-day simple moving average of $0.81. The company has a market cap of $6.30 million, a price-to-earnings ratio of -0.27 and a beta of 0.62. Organovo has a 12 month low of $0.43 and a 12 month high of $2.05.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter. 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.