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

Analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital initiated 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 Price Performance

MediciNova stock opened at $2.07 on Wednesday. The stock’s 50 day moving average price is $1.94 and its 200 day moving average price is $1.66. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The company has a market cap of $101.53 million, a PE ratio of -9.86 and a beta of 0.84.

Institutional Inflows and Outflows

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