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

Equities researchers at StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a note issued to investors on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital began coverage on 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 MediciNova stock opened at $1.93 on Monday. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The company has a market capitalization of $94.67 million, a P/E ratio of -9.19 and a beta of 0.82. The company has a fifty day moving average of $2.06 and a 200 day moving average of $1.79.

Institutional Trading of MediciNova

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in shares of MediciNova during the third quarter valued at about $30,000. Geode Capital Management LLC boosted its stake in MediciNova by 10.3% during the third quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock valued at $1,063,000 after buying an additional 47,201 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in MediciNova during the 4th quarter valued at approximately $78,000. 9.90% of the stock is currently owned by 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.