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

StockNews.com started coverage on shares of Organovo (NASDAQ:ONVO) in a research report sent to investors on Saturday. The firm issued a sell rating on the medical research company’s stock.

Organovo Trading Down 5.3 %

ONVO stock opened at $0.34 on Friday. Organovo has a one year low of $0.32 and a one year high of $1.74. The firm has a 50-day moving average of $0.42 and a two-hundred day moving average of $0.55. The firm has a market capitalization of $5.24 million, a PE ratio of -0.32 and a beta of 0.53.

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.

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.