MediciNova (NASDAQ:MNOV) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Wednesday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

MediciNova Trading Up 3.1 %

NASDAQ:MNOV opened at $1.83 on Wednesday. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55. The firm has a market cap of $89.76 million, a price-to-earnings ratio of -7.96 and a beta of 0.82. The company’s 50-day moving average is $1.98 and its two-hundred day moving average is $1.84.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). On average, equities research analysts forecast that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MNOV. Jane Street Group LLC acquired a new position in MediciNova during the third quarter worth approximately $30,000. Millennium Management LLC increased its holdings in shares of MediciNova by 26.7% during the 4th quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 5,470 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of MediciNova in the 4th quarter worth $78,000. SBI Securities Co. Ltd. acquired a new position in MediciNova in the fourth quarter valued at $113,000. Finally, Barclays PLC grew its position in MediciNova by 15.5% during the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 12,800 shares during the period. 9.90% of the stock is currently 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.