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

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

Organovo Stock Performance

Shares of NASDAQ ONVO opened at $1.10 on Thursday. The stock’s 50 day moving average price is $1.04 and its two-hundred day moving average price is $1.13. Organovo has a 52-week low of $0.89 and a 52-week high of $2.17.

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

Hedge Funds Weigh In On Organovo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Organovo by 4.9% in 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. Renaissance Technologies LLC grew its holdings in Organovo by 17.3% in the 1st quarter. Renaissance Technologies LLC now owns 131,487 shares of the medical research company’s stock worth $288,000 after buying an additional 19,430 shares in the last quarter. Finally, Susquehanna International Group LLP grew its holdings in 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 in the last quarter. 8.23% of the stock is owned by institutional investors.

Organovo Company Profile

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.