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

Stock analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOVGet Free Report) in a research note issued on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Trading Down 2.0 %

NASDAQ MNOV opened at $1.49 on Tuesday. MediciNova has a 1-year low of $1.38 and a 1-year high of $2.66. The stock has a 50-day moving average of $1.65 and a 200-day moving average of $2.02. The firm has a market cap of $73.08 million, a PE ratio of -7.89 and a beta of 0.78.

MediciNova (NASDAQ:MNOVGet Free Report) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $1.00 million for the quarter. As a group, equities research analysts forecast that MediciNova will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MNOV. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of MediciNova by 98,059.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 18,650,237 shares of the biopharmaceutical company’s stock worth $42,896,000 after acquiring an additional 18,631,237 shares during the period. Jane Street Group LLC purchased a new stake in shares of MediciNova in the 4th quarter worth approximately $549,000. Bank of Montreal Can purchased a new stake in shares of MediciNova in the 2nd quarter worth approximately $311,000. Citigroup Inc. grew its stake in shares of MediciNova by 11.2% in the 2nd quarter. Citigroup Inc. now owns 498,257 shares of the biopharmaceutical company’s stock worth $1,146,000 after buying an additional 50,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of MediciNova by 46.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 110,036 shares of the biopharmaceutical company’s stock worth $238,000 after buying an additional 35,031 shares during the last quarter. Hedge funds and other institutional investors own 10.97% of the company’s stock.

About MediciNova

(Get Free Report)

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.

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