Organovo (NASDAQ:ONVO) Now Covered by StockNews.com

StockNews.com started 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 Stock Performance

Shares of ONVO opened at $0.34 on Tuesday. The stock has a market capitalization of $5.23 million, a PE ratio of -0.32 and a beta of 0.62. Organovo has a 1 year low of $0.32 and a 1 year high of $1.74. The company’s 50-day simple moving average is $0.45 and its 200-day simple moving average is $0.64.

Institutional Trading of Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC purchased a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to the company in its most recent Form 13F filing 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 approximately 6.46% of Organovo as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other 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.