StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV - Free Report) in a research note released on Thursday morning. The brokerage issued 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 price target for the company.
Check Out Our Latest Analysis on MNOV
MediciNova Price Performance
MNOV traded up $0.03 during trading hours on Thursday, reaching $2.13. The company's stock had a trading volume of 13,076 shares, compared to its average volume of 49,150. The stock has a market cap of $104.47 million, a PE ratio of -10.14 and a beta of 0.84. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The business's 50-day moving average is $1.99 and its 200-day moving average is $1.70.
Institutional Trading of MediciNova
A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC acquired a new stake in MediciNova, Inc. (NASDAQ:MNOV - Free Report) in the third quarter, according to 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 and hedge funds own 9.90% of the company's stock.
About MediciNova
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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.
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