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

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

Organovo Price Performance

Shares of NASDAQ ONVO opened at $0.57 on Thursday. The firm has a fifty day moving average of $0.69 and a 200-day moving average of $0.90. Organovo has a 52-week low of $0.50 and a 52-week high of $2.05.

Organovo (NASDAQ:ONVO) last issued its earnings results on Friday, May 31st. The medical research company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.13. The firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.08 million. As a group, analysts anticipate 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 acquired a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned 6.46% of Organovo as of its most recent SEC filing. 8.23% of the stock is owned by hedge funds and other institutional investors.

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.