Organovo (NASDAQ:ONVO) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Organovo (NASDAQ:ONVO) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the medical research company’s stock.

Organovo Trading Down 2.6 %

Shares of NASDAQ:ONVO opened at $1.12 on Thursday. The company has a 50 day moving average of $1.03 and a 200-day moving average of $1.13. The firm has a market cap of $11.24 million, a P/E ratio of -0.52 and a beta of 0.91. Organovo has a twelve month low of $0.89 and a twelve month high of $2.23.

Organovo (NASDAQ:ONVO) last issued its quarterly earnings results on Thursday, February 8th. The medical research company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.01. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.08 million. Equities research analysts forecast that Organovo will post -1.74 EPS for the current year.

Institutional Trading of Organovo

A number of institutional investors have recently made changes to their positions in ONVO. Vanguard Group Inc. raised its holdings in shares of Organovo by 26.4% in the 4th quarter. Vanguard Group Inc. now owns 353,612 shares of the medical research company’s stock worth $393,000 after purchasing an additional 73,788 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Organovo by 17.3% in the 1st quarter. Renaissance Technologies LLC now owns 131,487 shares of the medical research company’s stock worth $288,000 after purchasing an additional 19,430 shares in the last quarter. Finally, Susquehanna International Group LLP raised its holdings in shares of Organovo by 20.9% in the 1st quarter. Susquehanna International Group LLP now owns 61,266 shares of the medical research company’s stock worth $134,000 after purchasing an additional 10,594 shares in the last quarter. 8.23% of the stock is owned by institutional investors and hedge funds.

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.