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

Stock analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued on Wednesday. The firm 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 set a “buy” rating and a $9.00 price objective for the company.

MediciNova Stock Performance

Shares of MNOV opened at $1.96 on Wednesday. The stock has a market capitalization of $96.13 million, a PE ratio of -9.33 and a beta of 0.82. The company has a 50 day moving average price of $2.00 and a 200-day moving average price of $1.83. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of MediciNova by 26.7% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its stake in MediciNova by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company’s stock valued at $1,082,000 after purchasing an additional 8,948 shares in the last quarter. Jane Street Group LLC increased its stake in MediciNova by 64.5% during the 4th quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 9,121 shares in the last quarter. Barclays PLC increased its stake in MediciNova by 15.5% during the 4th quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 12,800 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in MediciNova during the 4th quarter valued at approximately $78,000. 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.