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

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

MediciNova Trading Down 1.6 %

NASDAQ:MNOV opened at $1.80 on Friday. The company has a market capitalization of $88.29 million, a P/E ratio of -8.57 and a beta of 0.77. The business’s 50-day moving average is $1.83 and its 200 day moving average is $1.53. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.55.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC bought a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 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.