MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV - Free Report) in a report published on Monday. The firm 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 target price on the stock.

MediciNova Trading Down 1.7 %

Shares of MNOV stock traded down $0.04 during trading hours on Monday, hitting $2.30. The company's stock had a trading volume of 57,950 shares, compared to its average volume of 49,784. The company has a 50 day moving average of $1.90 and a 200 day moving average of $1.61. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55. The stock has a market cap of $112.82 million, a PE ratio of -10.95 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 - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,138 shares of the biopharmaceutical company's stock, valued at approximately $30,000. Hedge funds and other institutional investors own 9.90% of the company's stock.

MediciNova Company Profile

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.