Organovo (NASDAQ:ONVO) Coverage Initiated at StockNews.com

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

Shares of ONVO opened at $2.47 on Friday. Organovo has a 52 week low of $2.24 and a 52 week high of $11.25. The business has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $3.73. The stock has a market cap of $21.50 million, a price-to-earnings ratio of -1.78 and a beta of 0.63.

Several large investors have recently bought and sold shares of the company. Morgan Stanley lifted its stake in shares of Organovo by 16.5% in the 2nd quarter. Morgan Stanley now owns 31,689 shares of the medical research company’s stock valued at $298,000 after purchasing an additional 4,478 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Organovo by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 64,075 shares of the medical research company’s stock valued at $435,000 after acquiring an additional 4,506 shares during the period. Susquehanna International Group LLP increased its holdings in shares of Organovo by 30.9% in the 4th quarter. Susquehanna International Group LLP now owns 19,766 shares of the medical research company’s stock valued at $72,000 after acquiring an additional 4,666 shares during the period. Millennium Management LLC purchased a new position in shares of Organovo in the 3rd quarter valued at $94,000. Finally, Moors & Cabot Inc. purchased a new position in Organovo during the 3rd quarter worth $27,000. 26.03% of the stock is owned by institutional investors and hedge funds.

Organovo Company Profile (Get Rating)

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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