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

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

Organovo Price Performance

Shares of ONVO opened at $0.57 on Thursday. The company’s fifty day moving average price is $0.69 and its 200-day moving average price is $0.90. Organovo has a 1-year low of $0.50 and a 1-year high of $2.05.

Organovo (NASDAQ:ONVO) last issued its quarterly earnings results on Friday, May 31st. The medical research company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.13. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.08 million. As a group, equities research analysts predict that Organovo will post -0.96 EPS for the current fiscal year.

Institutional Trading of Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new stake in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing. Hedge funds and other institutional investors 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.