StockNews.com Initiates Coverage on Organovo (NASDAQ:ONVO)

Investment analysts at StockNews.com began coverage on shares of Organovo (NASDAQ:ONVO) in a research note issued to investors on Thursday. The firm set a “sell” rating on the medical research company’s stock.

Organovo Stock Down 4.3 %

ONVO stock opened at $1.10 on Thursday. The firm has a 50 day moving average of $1.04 and a two-hundred day moving average of $1.13. Organovo has a 12 month low of $0.89 and a 12 month high of $2.17. The company has a market capitalization of $11.04 million, a price-to-earnings ratio of -0.51 and a beta of 0.91.

Organovo (NASDAQ:ONVO) last issued its quarterly earnings data on Thursday, February 8th. The medical research company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.08 million. On average, research analysts expect that Organovo will post -1.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Susquehanna International Group LLP increased its position in Organovo by 20.9% during the first quarter. Susquehanna International Group LLP now owns 61,266 shares of the medical research company’s stock worth $134,000 after acquiring an additional 10,594 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Organovo by 17.3% during the 1st quarter. Renaissance Technologies LLC now owns 131,487 shares of the medical research company’s stock worth $288,000 after purchasing an additional 19,430 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Organovo by 4.9% during the third quarter. Vanguard Group Inc. now owns 283,074 shares of the medical research company’s stock valued at $580,000 after buying an additional 13,153 shares during the last quarter. 8.23% of the stock is currently owned by institutional investors and hedge funds.

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.