StockNews.com Begins Coverage on MediciNova (NASDAQ:MNOV)

Investment analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a report issued on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

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

MediciNova Trading Down 2.1 %

MNOV opened at $1.83 on Friday. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The stock has a market capitalization of $89.76 million, a PE ratio of -8.71 and a beta of 0.84. The firm has a 50-day moving average price of $2.06 and a two-hundred day moving average price of $1.74.

Hedge Funds Weigh In On MediciNova

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