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

StockNews.com started coverage on shares of Organovo (NASDAQ:ONVO) in a research report released on Monday. The firm issued a sell rating on the medical research company’s stock.

Organovo Trading Up 2.0 %

Organovo stock opened at $1.03 on Monday. The firm has a 50-day moving average price of $1.02 and a 200-day moving average price of $1.15. The firm has a market capitalization of $10.34 million, a PE ratio of -0.47 and a beta of 0.90. Organovo has a 12-month low of $0.89 and a 12-month high of $2.31.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings data on Thursday, February 8th. The medical research company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. Organovo had a negative net margin of 4,061.12% and a negative return on equity of 182.88%. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.08 million. As a group, sell-side analysts predict that Organovo will post -1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Organovo

Several large investors have recently modified their holdings of the business. Susquehanna International Group LLP grew its position 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 buying an additional 10,594 shares during the last quarter. Vanguard Group Inc. grew its position in 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 purchasing an additional 13,153 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in 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 last quarter. Institutional investors 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.