MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a report published on Sunday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

MNOV opened at $2.07 on Friday. The stock has a market capitalization of $101.53 million, a PE ratio of -9.86 and a beta of 0.77. The firm’s fifty day moving average price is $1.86 and its 200 day moving average price is $1.57. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55.

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Institutional investors and hedge funds own 9.90% of the company’s stock.

MediciNova Company Profile

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.