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

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research report sent to investors on Monday morning. The firm issued a sell rating on the medical research company’s stock.

Organovo Stock Performance

ONVO opened at $0.49 on Monday. The company has a fifty day moving average of $0.41 and a two-hundred day moving average of $0.51. The stock has a market capitalization of $7.48 million, a price-to-earnings ratio of -0.46 and a beta of 0.56. Organovo has a fifty-two week low of $0.32 and a fifty-two week high of $1.74.

Hedge Funds Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 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 reporting period. 8.23% of the stock is owned by institutional investors and hedge funds.

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.