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

Analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a note issued to investors on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

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

MediciNova Stock Performance

NASDAQ:MNOV opened at $1.84 on Tuesday. The stock has a 50 day moving average of $2.03 and a 200-day moving average of $1.81. The firm has a market capitalization of $90.25 million, a PE ratio of -8.76 and a beta of 0.82. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in shares of MediciNova during the fourth quarter valued at about $113,000. Geode Capital Management LLC increased its stake in 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 buying an additional 47,201 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of MediciNova during the 4th quarter worth about $78,000. Finally, Jane Street Group LLC acquired a new stake in shares of MediciNova in the 3rd quarter worth approximately $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.