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

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a report published on Monday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

MediciNova Stock Performance

NASDAQ:MNOV opened at $2.17 on Monday. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The firm has a market cap of $106.43 million, a PE ratio of -10.33 and a beta of 0.84. The business has a 50 day moving average price of $1.91 and a 200-day moving average price of $1.62.

Hedge Funds Weigh In On MediciNova

An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC increased its holdings in MediciNova, Inc. (NASDAQ:MNOV) by 10.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505,966 shares of the biopharmaceutical company’s stock after acquiring an additional 47,201 shares during the quarter. Geode Capital Management LLC owned about 1.03% of MediciNova worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission. 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.