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

StockNews.com assumed coverage on shares of Organovo (NASDAQ:ONVO) in a report released on Wednesday. The brokerage set a “sell” rating on the medical research company’s stock.

Organovo Stock Performance

Shares of NASDAQ:ONVO opened at $0.46 on Wednesday. Organovo has a one year low of $0.43 and a one year high of $2.05. The stock has a market capitalization of $6.62 million, a price-to-earnings ratio of -0.29 and a beta of 0.62. The company has a 50-day simple moving average of $0.54 and a 200-day simple moving average of $0.79.

Organovo (NASDAQ:ONVO) last posted its quarterly earnings data on Monday, August 5th. The medical research company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.15. The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.03 million. As a group, research analysts forecast that Organovo will post -0.96 EPS for the current fiscal year.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.23% of the company’s stock.

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.