MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV - Free Report) in a report issued on Monday morning. The brokerage issued a hold rating on the biopharmaceutical company's stock.

Separately, D. Boral Capital reaffirmed a "buy" rating and set a $9.00 target price on shares of MediciNova in a report on Friday, March 14th.

MediciNova Price Performance

MNOV traded down $0.07 during trading on Monday, hitting $1.34. The company had a trading volume of 31,686 shares, compared to its average volume of 39,369. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The company has a market cap of $65.72 million, a PE ratio of -5.83 and a beta of 0.73. The business has a 50-day moving average of $1.70 and a 200-day moving average of $1.86.

MediciNova (NASDAQ:MNOV - Get Free Report) last released its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Research analysts forecast that MediciNova will post -0.24 earnings per share for the current year.

Institutional Trading of MediciNova

Institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its holdings in shares of MediciNova by 26.7% in the 4th quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company's stock valued at $54,000 after buying an additional 5,470 shares during the period. Bank of America Corp DE boosted its stake in MediciNova by 111.3% in the fourth quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company's stock valued at $339,000 after acquiring an additional 84,963 shares during the period. Jane Street Group LLC boosted its stake in MediciNova by 64.5% in the fourth quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 9,121 shares during the period. Barclays PLC grew its holdings in shares of MediciNova by 15.5% during the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company's stock valued at $201,000 after purchasing an additional 12,800 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of MediciNova by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company's stock worth $1,082,000 after purchasing an additional 8,948 shares during the period. 9.90% of the stock is owned by institutional investors and hedge funds.

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.