Organovo (NASDAQ:ONVO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a report published on Wednesday. The firm issued a sell rating on the medical research company’s stock.

Organovo Stock Down 3.7 %

Shares of ONVO stock opened at $0.34 on Wednesday. The stock has a 50-day simple moving average of $0.40 and a 200 day simple moving average of $0.48. Organovo has a fifty-two week low of $0.32 and a fifty-two week high of $1.74. The stock has a market capitalization of $5.26 million, a P/E ratio of -0.32 and a beta of 0.56.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings data on Friday, November 8th. The medical research company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.12. Organovo had a negative return on equity of 249.28% and a negative net margin of 12,176.70%. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.04 million. On average, sell-side analysts anticipate that Organovo will post -0.77 earnings per share for the current year.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new position in Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo at the end of the most recent quarter. 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.