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

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

Organovo Price Performance

ONVO stock opened at $0.43 on Monday. Organovo has a 12 month low of $0.32 and a 12 month high of $1.74. The company has a market cap of $6.62 million, a price-to-earnings ratio of -0.41 and a beta of 0.56. The company has a fifty day moving average price of $0.41 and a 200 day moving average price of $0.51.

Hedge Funds Weigh In On Organovo

A hedge fund recently bought a new stake in Organovo stock. Armistice Capital LLC bought a new stake in shares of Organovo Holdings, Inc. (NASDAQ:ONVO) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 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.

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.