MediciNova (NASDAQ:MNOV) Now Covered by StockNews.com

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

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

MediciNova Trading Down 1.5 %

Shares of MediciNova stock opened at $1.96 on Friday. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The firm’s 50-day moving average price is $2.03 and its two-hundred day moving average price is $1.73. The stock has a market capitalization of $96.13 million, a price-to-earnings ratio of -9.33 and a beta of 0.84.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position 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 disclosure with the Securities and Exchange Commission. The institutional investor purchased 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.

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.