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

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a report issued on Wednesday. The firm issued a hold rating on the biopharmaceutical company’s stock.

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

MediciNova Trading Up 6.2 %

MNOV opened at $2.07 on Wednesday. The stock has a fifty day moving average price of $1.96 and a 200 day moving average price of $1.68. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The stock has a market cap of $101.53 million, a price-to-earnings ratio of -9.86 and a beta of 0.84.

Institutional Trading of 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) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is currently owned by hedge funds and other institutional investors.

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.