Investment analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV - Get Free Report) in a research note issued on Wednesday. The firm set a "hold" rating on the biopharmaceutical company's stock.
Separately, D. Boral Capital started coverage on MediciNova in a research report on Monday, December 2nd. They set a "buy" rating and a $9.00 price objective for the company.
Get Our Latest Stock Report on MNOV
MediciNova Price Performance
Shares of MNOV stock traded up $0.06 during midday trading on Wednesday, reaching $1.83. 24,296 shares of the company traded hands, compared to its average volume of 20,071. The firm's 50 day simple moving average is $1.98 and its two-hundred day simple moving average is $1.84. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The firm has a market cap of $89.75 million, a PE ratio of -7.96 and a beta of 0.82.
MediciNova (NASDAQ:MNOV - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.06). As a group, research analysts anticipate that MediciNova will post -0.24 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of MNOV. Bank of America Corp DE raised its position in shares of MediciNova by 111.3% during the 4th quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company's stock worth $339,000 after purchasing an additional 84,963 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in MediciNova in the 4th quarter worth approximately $113,000. Geode Capital Management LLC grew its stake in MediciNova by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company's stock worth $1,063,000 after acquiring an additional 47,201 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in MediciNova in the 4th quarter worth approximately $78,000. Finally, Jane Street Group LLC purchased a new stake in MediciNova in the 3rd quarter worth approximately $30,000. 9.90% of the stock is currently owned by institutional investors and hedge funds.
About MediciNova
(
Get Free Report)
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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