StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV - Free Report) in a research note issued to investors on Sunday morning. The firm issued a hold rating on the biopharmaceutical company's stock.
Separately, D. Boral Capital started coverage on shares of MediciNova in a report on Monday, December 2nd. They issued a "buy" rating and a $9.00 price target for the company.
Read Our Latest Research Report on MediciNova
MediciNova Trading Down 2.1 %
Shares of MediciNova stock traded down $0.04 on Friday, hitting $1.89. 6,760 shares of the company traded hands, compared to its average volume of 25,924. The stock's 50 day moving average price is $2.06 and its 200-day moving average price is $1.77. The company has a market cap of $92.70 million, a PE ratio of -9.00 and a beta of 0.84. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC bought a new position in MediciNova, Inc. (NASDAQ:MNOV - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.
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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