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

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued to investors on Wednesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital began coverage on shares of MediciNova in a research note on Monday, December 2nd. They set a “buy” rating and a $9.00 price target for the company.

MediciNova Trading Down 2.4 %

Shares of MediciNova stock opened at $2.07 on Wednesday. The firm has a market capitalization of $101.53 million, a P/E ratio of -9.86 and a beta of 0.84. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.55. The business’s fifty day simple moving average is $1.95 and its 200 day simple moving average is $1.67.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC boosted its position in MediciNova, Inc. (NASDAQ:MNOV) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 about 1.03% of MediciNova worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 9.90% of the stock is owned by 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.