MediciNova (NASDAQ:MNOV) Now Covered by StockNews.com

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

MediciNova Stock Performance

Shares of MNOV opened at $1.35 on Tuesday. The business’s 50-day moving average is $1.40 and its two-hundred day moving average is $1.53. The company has a market capitalization of $66.21 million, a P/E ratio of -7.94 and a beta of 0.70. MediciNova has a fifty-two week low of $1.26 and a fifty-two week high of $2.66.

MediciNova (NASDAQ:MNOV) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.04. Analysts forecast that MediciNova will post -0.23 EPS for the current year.

Institutional Trading of MediciNova

A hedge fund recently bought a new stake 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 its most recent disclosure with the SEC. The institutional investor bought 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Hedge funds and other institutional investors own 9.90% of the company’s stock.

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.