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

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

Organovo Stock Up 2.6 %

NASDAQ:ONVO opened at $0.47 on Friday. The company’s 50-day moving average price is $0.52 and its two-hundred day moving average price is $0.75. Organovo has a 12 month low of $0.43 and a 12 month high of $2.05. The firm has a market cap of $7.23 million, a PE ratio of -0.34 and a beta of 0.61.

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, topping the consensus estimate of ($0.38) by $0.15. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.03 million. On average, research analysts expect 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 bought a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo at the end of the most recent reporting period. 8.23% of the stock is currently owned by institutional investors.

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.