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

StockNews.com initiated coverage on shares of Organovo (NASDAQ:ONVO) in a research note issued to investors on Monday. The brokerage issued a sell rating on the medical research company’s stock.

Organovo Trading Up 2.0 %

Shares of ONVO 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. Organovo has a twelve month low of $0.89 and a twelve month high of $2.31. The company has a market capitalization of $10.34 million, a price-to-earnings ratio of -0.47 and a beta of 0.90.

Organovo (NASDAQ:ONVO) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $0.08 million. Organovo had a negative return on equity of 182.88% and a negative net margin of 4,061.12%. As a group, research analysts predict that Organovo will post -1.74 earnings per share for the current year.

Institutional Trading of Organovo

A number of institutional investors have recently modified their holdings of ONVO. Susquehanna International Group LLP boosted 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 acquiring an additional 10,594 shares during the period. Renaissance Technologies LLC raised its position in shares of Organovo by 17.3% in the 1st 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. Finally, Vanguard Group Inc. raised its position in shares of Organovo by 26.4% in the 4th quarter. Vanguard Group Inc. now owns 353,612 shares of the medical research company’s stock valued at $393,000 after purchasing an additional 73,788 shares in the last quarter. Hedge funds and other institutional investors own 8.23% of the company’s stock.

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.