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

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

Organovo Trading Up 2.7 %

ONVO stock opened at $1.15 on Thursday. The company’s 50 day simple moving average is $1.04 and its 200-day simple moving average is $1.13. Organovo has a 12 month low of $0.89 and a 12 month high of $2.23.

Organovo (NASDAQ:ONVO) last announced its quarterly earnings data on Thursday, February 8th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.01. The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.08 million. As a group, analysts predict that Organovo will post -1.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Organovo

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Organovo by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 353,612 shares of the medical research company’s stock valued at $393,000 after buying an additional 73,788 shares during the period. Susquehanna International Group LLP raised its stake in Organovo by 20.9% during the first quarter. Susquehanna International Group LLP now owns 61,266 shares of the medical research company’s stock worth $134,000 after purchasing an additional 10,594 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Organovo by 17.3% during the first 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 period. Hedge funds and other 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.