Equities research analysts at StockNews.com assumed coverage on shares of Organovo (NASDAQ:ONVO – Get Rating) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the medical research company’s stock.
Organovo Stock Performance
ONVO stock opened at $1.55 on Monday. The firm has a 50 day moving average price of $1.87 and a 200-day moving average price of $2.30. Organovo has a 52-week low of $1.50 and a 52-week high of $5.44. The firm has a market capitalization of $13.51 million, a price-to-earnings ratio of -1.13 and a beta of 1.04.
Institutional Investors Weigh In On Organovo
A hedge fund recently raised its stake in Organovo stock. Vanguard Group Inc. boosted its stake in Organovo Holdings, Inc. (NASDAQ:ONVO – Get Rating) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,074 shares of the medical research company’s stock after purchasing an additional 13,153 shares during the quarter. Vanguard Group Inc. owned about 3.25% of Organovo worth $580,000 as of its most recent SEC filing. 23.02% of the stock is currently owned by hedge funds and other institutional investors.
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.
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