Organovo (NASDAQ:ONVO) Earns Sell Rating from Analysts at StockNews.com

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

Organovo Price Performance

ONVO opened at $0.40 on Friday. The company has a market capitalization of $6.18 million, a price-to-earnings ratio of -0.29 and a beta of 0.62. Organovo has a 1-year low of $0.39 and a 1-year high of $2.05. The business has a 50 day moving average price of $0.48 and a two-hundred day moving average price of $0.69.

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

Hedge Funds Weigh In On Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought 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 fund bought 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 quarter. 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.