Dallas, Texas 07/23/2013 (Financialstrend) – The stock of Organovo Holdings Inc (NASDAQ:ONVO) jumped quickly as the company announced that it had been granted permission to uplist on New York stock exchange (NYSE) on July 9, 2013. The stock moved from $3.90 on closing on July 8, 2013 to reach $6.33 when markets closed on July 22, 2013. The volumes traded at the exchange have augmented to almost four times the average volume traded accounting for 3746K stocks on the trading day of July 22, 2013, the 90 day average trading recorded as 919K
Organovo is a technology development company employed in generation of three-dimensional human tissue for drug discovery and its development. The research is helpful in biological research and treatment of damaged human tissues and organs. The company enjoys the market dominance with almost nil competition in Bioprinting. Its product NovoGen MMX Bioprinter gives the company an edge in two markets 3D printing and bio technology. The diversification in markets makes the stock a good investment. As proven, diversification reduces the market systematic risks while enhancing the company’s alpha.
CEO of the company Keith Murphy had on many occasions, pointed towards the listing. This marks a crucial day for the company as it will garner substantial capital to the company. The listing will take the company towards it’s strive to change the face of medical research. NYSE will grant Organovo the wanted liquidity and reduced volatility in trades. The price discovery will be fairer and will receive funds from institutional investors who will invest for being listed on reputed stock exchange and not only on OTC market. The “smart money” will bring in investors and bigger opportunities. Company till date has maintained a great track record.
Investors need to watch on how a novelty status and near monopoly in Bioprinting performs on NYSE.