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

StockNews.com started coverage on shares of Organovo (NASDAQ:ONVO) in a research note published on Wednesday. The firm issued a sell rating on the medical research company’s stock.

Organovo Price Performance

Shares of ONVO stock opened at $0.47 on Wednesday. The business’s fifty day moving average price is $0.54 and its 200 day moving average price is $0.79. The firm has a market capitalization of $6.70 million, a PE ratio of -0.29 and a beta of 0.61. Organovo has a 1-year low of $0.43 and a 1-year high of $2.05.

Organovo (NASDAQ:ONVO) last released its quarterly earnings results on Monday, August 5th. The medical research company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.15. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.03 million. Equities research analysts expect that Organovo will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Organovo

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 second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period. 8.23% of the stock is 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.