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

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

Organovo Stock Performance

ONVO stock opened at $0.44 on Tuesday. The firm’s 50-day moving average is $0.56 and its two-hundred day moving average is $0.81. The company has a market capitalization of $6.30 million, a price-to-earnings ratio of -0.27 and a beta of 0.62. Organovo has a 52 week low of $0.43 and a 52 week high of $2.05.

Hedge Funds Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.23% of the company’s stock.

About Organovo

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.