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

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

MediciNova Trading Up 6.5 %

MediciNova stock opened at $2.13 on Friday. The firm has a market capitalization of $104.48 million, a P/E ratio of -10.14 and a beta of 0.77. The stock has a fifty day moving average price of $1.83 and a 200 day moving average price of $1.55. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55.

Institutional Investors Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC purchased a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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.