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

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

MediciNova Stock Performance

Shares of MediciNova stock opened at $1.24 on Monday. The firm has a 50-day moving average of $1.32 and a 200-day moving average of $1.36. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.49. The stock has a market cap of $60.82 million, a PE ratio of -7.29 and a beta of 0.72.

Institutional Inflows and Outflows

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