MediciNova (NASDAQ:MNOV) Coverage Initiated at StockNews.com

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

MediciNova Price Performance

Shares of MNOV opened at $1.29 on Monday. The firm has a fifty day moving average price of $1.40 and a 200 day moving average price of $1.56. MediciNova has a 1-year low of $1.26 and a 1-year high of $2.66.

MediciNova (NASDAQ:MNOV) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. As a group, equities analysts expect that MediciNova will post -0.23 EPS for the current fiscal year.

Institutional Trading of MediciNova

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