Citron Research has a new sell recommendation on Organovo Holdings Inc (NYSE: ONVO), which can be viewed below.
At the present moment, Organovo (NYSEMKT:ONVO) is a money-losing highly speculative biotech company which has been swept up in the mania for 3D printing stocks. Organovo Holdings Inc (NYSE: ONVO) has been spinning a story that its technology would allow the “bio-printing” of replacement organs.
Admittedly this “story” has sizzle but that is where it stops. Citron is not going to waste readers time rehashing the arguments that have been made tirelessly by writers showing that Organovo is nothing but fluff, that the technology discussed by the company is 10 years away and they are not even the most credible player in the space, even when compared to the accomplishments and strategic partnerships of companies with 1 / 100thof ONVO’s current market value. (The best links are in the story if you need to get up to speed quickly.)
Today Citron answers the question: “So if the institutional ownership of this name is near zero, and there’s no sell-side analyst coverage, “Who is Buying this S%!& ?”
You won’t believe what we found, and for those speculating in the name, we explain the potential catastrophic risk of having this type of bad actors pushing this stock.