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

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

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

MediciNova Stock Performance

Shares of MNOV opened at $2.13 on Thursday. MediciNova has a one year low of $1.12 and a one year high of $2.55. The stock’s fifty day moving average is $2.00 and its 200-day moving average is $1.70. The firm has a market capitalization of $104.47 million, a price-to-earnings ratio of -10.14 and a beta of 0.84.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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.