MediciNova (NASDAQ:MNOV) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research report report published on Tuesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

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

MediciNova Price Performance

NASDAQ MNOV opened at $2.13 on Tuesday. The company has a market cap of $104.47 million, a P/E ratio of -10.14 and a beta of 0.84. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.55. The company has a 50-day moving average of $1.92 and a 200-day moving average of $1.64.

Hedge Funds Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC acquired a new position in MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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.