Organovo (NASDAQ:ONVO) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research note released on Saturday morning. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Stock Performance

ONVO stock opened at $0.36 on Friday. The firm has a market cap of $5.53 million, a PE ratio of -0.34 and a beta of 0.53. Organovo has a one year low of $0.32 and a one year high of $1.74. The firm’s 50 day moving average price is $0.42 and its 200-day moving average price is $0.56.

Hedge Funds Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 currently owned by institutional investors and hedge funds.

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.