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

Equities research analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital assumed 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 Stock Performance

NASDAQ MNOV opened at $2.15 on Tuesday. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.55. The business has a 50 day simple moving average of $1.93 and a 200 day simple moving average of $1.64. The stock has a market cap of $105.45 million, a price-to-earnings ratio of -10.24 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 purchased a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to the company in its most recent disclosure with the 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 institutional investors and hedge funds.

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.