MediciNova (NASDAQ:MNOV) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research note published on Sunday. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Stock Up 3.0 %

MNOV opened at $2.07 on Friday. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.55. The company has a 50 day moving average of $1.86 and a two-hundred day moving average of $1.57. The company has a market cap of $101.53 million, a P/E ratio of -9.86 and a beta of 0.77.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC increased its position in MediciNova, Inc. (NASDAQ:MNOV) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 505,966 shares of the biopharmaceutical company’s stock after purchasing an additional 47,201 shares during the quarter. Geode Capital Management LLC owned 1.03% of MediciNova worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 9.90% of the company’s stock.

MediciNova Company Profile

MediciNova, Inc, a biopharmaceutical company, focuses on developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. It is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological and other disorders, such as primary and secondary progressive multiple sclerosis, amyotrophic lateral sclerosis, chemotherapy-induced peripheral neuropathy, degenerative cervical myelopathy, glioblastoma, and substance dependence and addiction, as well as prevention of acute respiratory distress syndrome, and long COVID.