Organovo (NASDAQ:ONVO) Research Coverage Started at StockNews.com

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

Organovo Stock Performance

NASDAQ ONVO opened at $0.43 on Friday. Organovo has a 12 month low of $0.40 and a 12 month high of $2.05. The company’s 50-day moving average price is $0.51 and its 200-day moving average price is $0.72.

Organovo (NASDAQ:ONVO) last issued its earnings results on Monday, August 5th. The medical research company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.15. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.03 million. As a group, equities research analysts expect that Organovo will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to the company in its most recent 13F filing 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 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.

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.