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

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

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

MediciNova Trading Down 1.5 %

MNOV opened at $1.96 on Friday. The stock’s fifty day simple moving average is $2.03 and its 200 day simple moving average is $1.73. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The stock has a market cap of $96.13 million, a PE ratio of -9.33 and a beta of 0.84.

Institutional Trading of MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC bought a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is 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.