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

Equities research analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued on Saturday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of MNOV opened at $2.13 on Friday. The stock has a market capitalization of $104.48 million, a PE ratio of -10.14 and a beta of 0.77. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The company’s 50-day simple moving average is $1.82 and its 200-day simple moving average is $1.54.

Hedge Funds Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC bought a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Institutional investors own 9.90% of the company’s stock.

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.