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

Equities researchers at StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research report issued on Monday. The brokerage set a “sell” rating on the medical research company’s stock.

Organovo Stock Up 0.1 %

Shares of ONVO opened at $0.49 on Monday. The company has a 50-day moving average price of $0.41 and a two-hundred day moving average price of $0.51. The stock has a market cap of $7.49 million, a price-to-earnings ratio of -0.46 and a beta of 0.56. Organovo has a 12 month low of $0.32 and a 12 month high of $1.74.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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 and Exchange Commission (SEC). 8.23% of the stock is currently owned by institutional investors and hedge funds.

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.