StockNews.com Begins Coverage on MediciNova (NASDAQ:MNOV)

Equities research analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a note issued to investors on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

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

MediciNova Stock Down 5.2 %

NASDAQ:MNOV opened at $1.99 on Friday. The stock has a market capitalization of $97.60 million, a price-to-earnings ratio of -9.48 and a beta of 0.84. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55. The firm has a 50 day moving average of $2.03 and a 200 day moving average of $1.72.

Institutional Investors Weigh In On MediciNova

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

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.