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

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

Organovo Stock Down 2.6 %

Shares of ONVO stock opened at $1.12 on Thursday. The company has a market cap of $11.24 million, a price-to-earnings ratio of -0.52 and a beta of 0.91. Organovo has a 52 week low of $0.89 and a 52 week high of $2.23. The firm has a 50 day moving average of $1.03 and a 200-day moving average of $1.13.

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

Institutional Trading of Organovo

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Organovo by 26.4% during the 4th quarter. Vanguard Group Inc. now owns 353,612 shares of the medical research company’s stock valued at $393,000 after acquiring an additional 73,788 shares in the last quarter. Susquehanna International Group LLP lifted its stake in Organovo by 20.9% during the 1st quarter. Susquehanna International Group LLP now owns 61,266 shares of the medical research company’s stock valued at $134,000 after acquiring an additional 10,594 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Organovo by 17.3% during 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 during the period. Institutional investors and hedge funds own 8.23% of the company’s stock.

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.