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

by · The Markets Daily

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

Organovo Trading Down 2.9 %

Shares of ONVO opened at $0.34 on Tuesday. Organovo has a 12-month low of $0.32 and a 12-month high of $1.74. The firm has a 50-day moving average price of $0.45 and a 200 day moving average price of $0.64. The firm has a market capitalization of $5.23 million, a P/E ratio of -0.32 and a beta of 0.62.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Organovo stock. Armistice Capital LLC bought a new position in shares of Organovo Holdings, Inc. (NASDAQ:ONVO – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 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 reporting period. Institutional investors own 8.23% of the company’s stock.

Organovo Company Profile

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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.

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