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

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

MediciNova Trading Up 6.5 %

Shares of MNOV stock opened at $2.13 on Friday. The stock has a 50 day simple moving average of $1.83 and a 200 day simple moving average of $1.55. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The stock has a market cap of $104.48 million, a P/E ratio of -10.14 and a beta of 0.77.

Hedge Funds Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC acquired a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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.