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

Investment analysts at StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued on Saturday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of MediciNova stock opened at $2.13 on Friday. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The firm has a market capitalization of $104.48 million, a price-to-earnings ratio of -10.14 and a beta of 0.77. The stock has a 50 day moving average of $1.82 and a 200 day moving average of $1.54.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 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.