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 Tuesday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital began coverage on shares of MediciNova in a report on Monday, December 2nd. They issued a “buy” rating and a $9.00 target price on the stock.

MediciNova Trading Up 0.5 %

Shares of MNOV opened at $2.16 on Tuesday. The stock’s 50-day moving average price is $1.93 and its two-hundred day moving average price is $1.65. The company has a market capitalization of $105.94 million, a PE ratio of -10.29 and a beta of 0.84. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.55.

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC acquired a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is owned by hedge funds and other institutional investors.

About MediciNova

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.