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

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research report released on Saturday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

MNOV opened at $2.08 on Friday. The company has a market cap of $102.02 million, a price-to-earnings ratio of -9.90 and a beta of 0.77. MediciNova has a one year low of $1.12 and a one year high of $2.55. The business’s fifty day moving average is $1.84 and its two-hundred day moving average is $1.56.

Hedge Funds Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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

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.