Organovo (NASDAQ:ONVO) Now Covered by Analysts at StockNews.com

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

Organovo Price Performance

Organovo stock opened at $0.44 on Friday. The company has a market cap of $6.35 million, a PE ratio of -0.27 and a beta of 0.61. The company has a fifty day moving average price of $0.51 and a two-hundred day moving average price of $0.73. Organovo has a 12 month low of $0.43 and a 12 month high of $2.05.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings results on Monday, August 5th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.15. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.03 million. Equities research 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 acquired a new position in 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 institutional investor acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo as of its most recent SEC filing. 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.