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

Equities researchers at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued to clients and investors on Wednesday. The firm set 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 objective for the company.

MediciNova Stock Down 5.8 %

Shares of MediciNova stock opened at $1.95 on Wednesday. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.55. The company has a market capitalization of $95.64 million, a P/E ratio of -9.29 and a beta of 0.84. The company has a 50 day moving average of $1.95 and a 200 day moving average of $1.67.

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) during the 3rd quarter, according to its most recent 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. 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.