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

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

MediciNova Stock Down 3.4 %

NASDAQ:MNOV opened at $2.30 on Friday. The stock’s 50-day simple moving average is $1.88 and its 200 day simple moving average is $1.58. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The firm has a market capitalization of $112.82 million, a PE ratio of -10.95 and a beta of 0.84.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC acquired a new position in MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Hedge funds and other 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.