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

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

Separately, D. Boral Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of MediciNova in a research report on Friday, March 14th.

MediciNova Trading Down 2.8 %

MNOV stock opened at $1.41 on Monday. The stock has a market cap of $69.15 million, a PE ratio of -6.13 and a beta of 0.73. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.55. The company has a 50-day moving average price of $1.71 and a 200 day moving average price of $1.86.

MediciNova (NASDAQ:MNOV) last announced its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Sell-side analysts forecast that MediciNova will post -0.24 EPS for the current year.

Institutional Trading of MediciNova

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in MediciNova in the third quarter worth approximately $30,000. Geode Capital Management LLC grew 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 worth $1,063,000 after buying an additional 47,201 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of MediciNova during the fourth quarter valued at $78,000. SBI Securities Co. Ltd. bought a new stake in shares of MediciNova in the fourth quarter valued at about $113,000. Finally, Millennium Management LLC lifted its stake in MediciNova by 26.7% in the fourth quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 5,470 shares during the period. 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.