MediciNova (NASDAQ:MNOV) Research Coverage Started at StockNews.com

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

Separately, D. Boral Capital assumed coverage on shares of MediciNova in a research report on Monday, December 2nd. They set a “buy” rating and a $9.00 price objective for the company.

MediciNova Stock Up 0.5 %

Shares of NASDAQ MNOV opened at $2.16 on Tuesday. The company’s fifty day moving average is $1.93 and its 200-day moving average is $1.65. The stock has a market cap of $105.94 million, a price-to-earnings ratio of -10.29 and a beta of 0.84. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC bought a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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.