StockNews.com Initiates Coverage on Organovo (NASDAQ:ONVO)

Investment analysts at StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the medical research company’s stock.

Organovo Price Performance

ONVO opened at $0.46 on Wednesday. The stock’s 50 day simple moving average is $0.54 and its 200 day simple moving average is $0.79. The stock has a market cap of $6.62 million, a P/E ratio of -0.29 and a beta of 0.62. Organovo has a 1-year low of $0.43 and a 1-year high of $2.05.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new stake in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 929,000 shares of the medical research company’s stock, valued at approximately $708,000. Armistice Capital LLC owned about 6.46% of Organovo as of its most recent filing with the SEC. 8.23% of the stock is currently owned by 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.