MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research report released on Tuesday. 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 report on Monday, December 2nd. They set a “buy” rating and a $9.00 target price for the company.

MediciNova Price Performance

MNOV stock opened at $1.84 on Tuesday. The company has a 50 day moving average price of $2.04 and a 200 day moving average price of $1.81. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The stock has a market capitalization of $90.25 million, a PE ratio of -8.76 and a beta of 0.82.

Institutional Trading of MediciNova

Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of MediciNova by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock valued at $1,063,000 after acquiring an additional 47,201 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of MediciNova in the 4th quarter valued at $113,000. Y Intercept Hong Kong Ltd acquired a new position in shares of MediciNova in the 4th quarter valued at $78,000. Finally, Jane Street Group LLC acquired a new position in shares of MediciNova in the 3rd quarter valued at $30,000. Institutional investors own 9.90% of the company’s stock.

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.