Organovo (NASDAQ:ONVO) Now Covered by StockNews.com

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

Organovo Price Performance

Shares of NASDAQ ONVO opened at $0.38 on Wednesday. Organovo has a fifty-two week low of $0.32 and a fifty-two week high of $1.74. The stock has a market capitalization of $5.90 million, a price-to-earnings ratio of -0.36 and a beta of 0.56. The business has a 50-day moving average of $0.40 and a 200-day moving average of $0.49.

Organovo (NASDAQ:ONVO) last posted its quarterly earnings results on Friday, November 8th. The medical research company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.12. Organovo had a negative return on equity of 249.28% and a negative net margin of 12,176.70%. The business had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.04 million. On average, sell-side analysts expect that Organovo will post -0.77 EPS for the current year.

Institutional Investors Weigh In On Organovo

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

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.