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

Investment analysts at StockNews.com began coverage on shares of Organovo (NASDAQ:ONVO) in a research report issued on Tuesday. The firm set a “sell” rating on the medical research company’s stock.

Organovo Stock Up 2.6 %

Organovo stock opened at $0.35 on Tuesday. The firm has a market cap of $5.38 million, a P/E ratio of -0.32 and a beta of 0.62. The business has a fifty day moving average of $0.45 and a two-hundred day moving average of $0.65. Organovo has a twelve month low of $0.32 and a twelve month high of $1.74.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC purchased a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo at the end of the most recent quarter. 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.