Organovo (NASDAQ:ONVO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research report report published on Thursday morning. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Stock Performance

Shares of NASDAQ:ONVO opened at $1.39 on Thursday. The firm has a market cap of $12.12 million, a PE ratio of -0.65 and a beta of 0.84. The firm’s fifty day moving average is $1.30 and its 200-day moving average is $1.52. Organovo has a 52 week low of $1.00 and a 52 week high of $3.40.

Insider Activity at Organovo

In other news, Director David Gobel sold 19,607 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $1.62, for a total transaction of $31,763.34. Following the transaction, the director now owns 19,607 shares in the company, valued at $31,763.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ONVO. Renaissance Technologies LLC lifted its position in shares of Organovo by 17.3% during the first quarter. Renaissance Technologies LLC now owns 131,487 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 19,430 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Organovo by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 283,074 shares of the medical research company’s stock worth $580,000 after buying an additional 13,153 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its position in shares of Organovo by 20.9% during the 1st quarter. Susquehanna International Group LLP now owns 61,266 shares of the medical research company’s stock worth $134,000 after buying an additional 10,594 shares in the last quarter. Hedge funds and other institutional investors own 9.14% 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.