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

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

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

MediciNova Stock Performance

Shares of NASDAQ MNOV opened at $1.99 on Friday. The stock has a 50 day moving average price of $2.03 and a 200 day moving average price of $1.72. The firm has a market capitalization of $97.60 million, a price-to-earnings ratio of -9.48 and a beta of 0.84. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.55.

Hedge Funds Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC purchased a new position in MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is owned by institutional investors.

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.