Equities research analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV – Get Free Report) 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 – Free Report) 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.
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