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

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research report sent to investors on Thursday. The firm issued a hold rating on the biopharmaceutical company’s stock.

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

MediciNova Stock Up 1.4 %

MNOV opened at $2.13 on Thursday. The firm’s 50-day moving average price is $1.99 and its 200-day moving average price is $1.70. The company has a market cap of $104.47 million, a P/E ratio of -10.14 and a beta of 0.84. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.55.

Institutional Trading of MediciNova

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