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

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued to investors on Sunday. The firm issued a hold rating on the biopharmaceutical company’s stock.

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

MediciNova Trading Up 2.6 %

MNOV opened at $1.98 on Friday. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55. The firm has a market capitalization of $97.12 million, a PE ratio of -9.43 and a beta of 0.84. The firm has a 50 day moving average of $2.07 and a two-hundred day moving average of $1.77.

Hedge Funds Weigh In On MediciNova

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

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.