Organovo (NASDAQ:ONVO) Coverage Initiated at StockNews.com

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

Organovo Stock Up 2.8 %

ONVO stock opened at $0.47 on Friday. The firm has a market capitalization of $7.15 million, a PE ratio of -0.34 and a beta of 0.62. Organovo has a twelve month low of $0.40 and a twelve month high of $2.05. The stock’s 50 day moving average is $0.50 and its 200-day moving average is $0.70.

Organovo (NASDAQ:ONVO) last issued its quarterly earnings data on Monday, August 5th. The medical research company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.15. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.03 million. On average, equities research analysts anticipate that Organovo will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to 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 SEC filing. 8.23% of the stock is owned by hedge funds and other institutional investors.

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.