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

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

NASDAQ:ONVO opened at $2.40 on Friday. The company has a market capitalization of $20.89 million, a P/E ratio of -1.73 and a beta of 0.63. Organovo has a 12 month low of $2.24 and a 12 month high of $11.25. The business’s 50-day moving average is $3.08 and its 200 day moving average is $3.58.

Several large investors have recently bought and sold shares of ONVO. Susquehanna International Group LLP raised its position in Organovo by 30.9% during the fourth quarter. Susquehanna International Group LLP now owns 19,766 shares of the medical research company’s stock valued at $72,000 after purchasing an additional 4,666 shares during the period. Renaissance Technologies LLC raised its position in Organovo by 60.7% during the fourth quarter. Renaissance Technologies LLC now owns 194,287 shares of the medical research company’s stock valued at $705,000 after purchasing an additional 73,400 shares during the period. Prescott Group Capital Management L.L.C. purchased a new stake in Organovo during the fourth quarter valued at approximately $200,000. Moors & Cabot Inc. purchased a new stake in Organovo during the third quarter valued at approximately $27,000. Finally, Millennium Management LLC purchased a new stake in Organovo during the third quarter valued at approximately $94,000. Institutional investors own 26.03% of the company’s stock.

About Organovo (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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