MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Sunday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

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

MediciNova Price Performance

Shares of NASDAQ MNOV opened at $1.93 on Friday. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The stock has a market capitalization of $94.67 million, a P/E ratio of -9.19 and a beta of 0.84. The company’s 50-day moving average is $2.06 and its 200 day moving average is $1.77.

Institutional Trading of MediciNova

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 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is currently owned by institutional investors and hedge funds.

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.