MediciNova (NASDAQ:MNOV) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research note published on Sunday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of MNOV stock opened at $1.13 on Friday. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.54. The stock has a market cap of $55.42 million, a price-to-earnings ratio of -6.65 and a beta of 0.72. The firm has a fifty day moving average of $1.34 and a 200-day moving average of $1.38.

Hedge Funds Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich bought a new position in MediciNova, Inc. (NASDAQ:MNOV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is currently 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.