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

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Saturday. The firm issued 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 target for the company.

MediciNova Price Performance

Shares of MNOV stock opened at $1.83 on Friday. MediciNova has a one year low of $1.12 and a one year high of $2.55. The business’s 50 day simple moving average is $2.07 and its 200 day simple moving average is $1.75. The stock has a market capitalization of $89.76 million, a PE ratio of -8.71 and a beta of 0.84.

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 its most recent filing with the SEC. The firm bought 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is owned by hedge funds and other 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.