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

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

Organovo Stock Performance

Shares of ONVO opened at $0.36 on Friday. The company’s 50-day simple moving average is $0.42 and its 200-day simple moving average is $0.55. Organovo has a 1 year low of $0.32 and a 1 year high of $1.74. The stock has a market capitalization of $5.53 million, a PE ratio of -0.34 and a beta of 0.53.

Institutional Investors Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC purchased a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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. Hedge funds and other 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.