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

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

Organovo Trading Up 6.2 %

Organovo stock opened at $0.47 on Tuesday. The stock has a fifty day moving average price of $0.55 and a 200 day moving average price of $0.81. Organovo has a 52 week low of $0.43 and a 52 week high of $2.05. The firm has a market capitalization of $6.69 million, a P/E ratio of -0.29 and a beta of 0.62.

Institutional Investors Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC purchased a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned approximately 6.46% of Organovo as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.