Organovo (NASDAQ:ONVO) Earns Sell Rating from Analysts at StockNews.com

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

Organovo Stock Performance

Organovo stock opened at $0.40 on Friday. Organovo has a 52 week low of $0.32 and a 52 week high of $1.74. The stock has a market cap of $6.22 million, a price-to-earnings ratio of -0.38 and a beta of 0.53. The company’s 50-day moving average price is $0.43 and its two-hundred day moving average price is $0.58.

Institutional Investors Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired 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 SEC. The fund acquired 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 SEC. Institutional investors and hedge funds 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.