MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of MNOV opened at $1.16 on Monday. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.49. The firm has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $1.37. The company has a market capitalization of $56.89 million, a price-to-earnings ratio of -6.82 and a beta of 0.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Institutional investors own 9.90% of the company’s stock.

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.