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

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

Organovo Stock Performance

ONVO stock opened at $0.40 on Friday. Organovo has a 1 year low of $0.32 and a 1 year high of $1.74. The stock has a market capitalization of $6.22 million, a price-to-earnings ratio of -0.38 and a beta of 0.53. The stock’s fifty day moving average is $0.43 and its two-hundred day moving average is $0.58.

Institutional Trading of Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC purchased a new stake in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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. Hedge funds and other institutional investors own 8.23% of the company’s stock.

Organovo Company Profile

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.