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

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

Separately, D. Boral Capital initiated coverage on MediciNova in a research report on Monday, December 2nd. They issued a “buy” rating and a $9.00 price objective for the company.

MediciNova Trading Down 1.5 %

NASDAQ:MNOV opened at $1.96 on Friday. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The stock has a 50-day moving average price of $2.03 and a two-hundred day moving average price of $1.73. The stock has a market cap 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 raised its position in MediciNova stock. Geode Capital Management LLC grew its position in MediciNova, Inc. (NASDAQ:MNOV) by 10.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505,966 shares of the biopharmaceutical company’s stock after purchasing an additional 47,201 shares during the period. Geode Capital Management LLC owned approximately 1.03% of MediciNova worth $1,063,000 at the end of the most recent quarter. 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.