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

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

Separately, D. Boral Capital began coverage on MediciNova in a research report on Monday, December 2nd. They issued a “buy” rating and a $9.00 target price on the stock.

MediciNova Trading Down 0.5 %

Shares of MNOV opened at $1.93 on Monday. The firm has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $1.79. The firm has a market cap of $94.67 million, a PE ratio of -9.19 and a beta of 0.82. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in shares of MediciNova during the 3rd quarter valued at $30,000. Y Intercept Hong Kong Ltd bought a new stake in MediciNova during the fourth quarter valued at about $78,000. Finally, Geode Capital Management LLC increased its position in MediciNova by 10.3% in the third quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock worth $1,063,000 after buying an additional 47,201 shares in the last quarter. 9.90% of the stock is currently owned by 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.