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

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

Organovo Stock Up 2.7 %

Shares of ONVO opened at $0.45 on Monday. The company has a market capitalization of $6.98 million, a price-to-earnings ratio of -0.43 and a beta of 0.56. Organovo has a 52-week low of $0.32 and a 52-week high of $1.74. The stock has a 50 day moving average price of $0.41 and a 200 day moving average price of $0.52.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC acquired a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo as of its most recent filing with the Securities & Exchange Commission. 8.23% of the stock is currently 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.