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

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

Organovo Stock Down 3.7 %

NASDAQ:ONVO opened at $0.34 on Wednesday. The company’s 50 day moving average is $0.40 and its 200-day moving average is $0.48. Organovo has a 12 month low of $0.32 and a 12 month high of $1.74. The firm has a market cap of $5.26 million, a price-to-earnings ratio of -0.32 and a beta of 0.56.

Organovo (NASDAQ:ONVO) last announced its earnings results on Friday, November 8th. The medical research company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.12. Organovo had a negative net margin of 12,176.70% and a negative return on equity of 249.28%. The firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.04 million. Research analysts predict that Organovo will post -0.77 EPS for the current fiscal year.

Institutional Trading of Organovo

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC acquired a new stake in Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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. 8.23% of the stock is 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.