Organovo (NASDAQ:ONVO) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Organovo (NASDAQ:ONVO) in a report released on Thursday. The firm issued a sell rating on the medical research company’s stock.

Organovo Stock Performance

NASDAQ:ONVO opened at $0.45 on Thursday. Organovo has a 52 week low of $0.43 and a 52 week high of $2.05. The firm’s fifty day moving average is $0.53 and its 200-day moving average is $0.77. The firm has a market cap of $6.42 million, a P/E ratio of -0.28 and a beta of 0.61.

Organovo (NASDAQ:ONVO) last issued its 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 business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.03 million. As a group, sell-side analysts anticipate that Organovo will post -0.96 earnings per share 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 shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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. Institutional investors and hedge funds 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.