MediciNova (NASDAQ:MNOV) Shares Cross Above 200 Day Moving Average – Should You Sell?

MediciNova, Inc. (NASDAQ:MNOV)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.69 and traded as high as $2.19. MediciNova shares last traded at $2.10, with a volume of 30,965 shares changing hands.

Analyst Ratings Changes

Several analysts recently weighed in on MNOV shares. D. Boral Capital started coverage on MediciNova in a report on Monday, December 2nd. They issued a “buy” rating and a $9.00 price objective for the company. StockNews.com assumed coverage on MediciNova in a report on Thursday. They issued a “hold” rating for the company.

MediciNova Stock Performance

The firm has a market cap of $104.47 million, a P/E ratio of -10.14 and a beta of 0.84. The business’s 50-day moving average is $1.99 and its two-hundred day moving average is $1.70.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC bought a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is owned by institutional investors.

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.