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

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

Organovo Trading Up 9.0 %

Shares of ONVO opened at $0.48 on Wednesday. The stock’s fifty day simple moving average is $0.44 and its 200 day simple moving average is $0.62. Organovo has a twelve month low of $0.32 and a twelve month high of $1.74. The firm has a market capitalization of $7.38 million, a P/E ratio of -0.45 and a beta of 0.62.

Hedge Funds Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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. 8.23% of the stock is owned by institutional investors.

Organovo Company Profile

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.