Organovo (NASDAQ:ONVO) Coverage Initiated at StockNews.com

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

Organovo Stock Performance

Shares of Organovo stock opened at $0.46 on Thursday. The company has a 50-day simple moving average of $0.44 and a two-hundred day simple moving average of $0.60. Organovo has a 52-week low of $0.32 and a 52-week high of $1.74. The stock has a market capitalization of $7.05 million, a PE ratio of -0.43 and a beta of 0.53.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo at the end of the most recent quarter. 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.