MediciNova (NASDAQ:MNOV) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a report issued on Thursday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital initiated coverage on shares of MediciNova in a research note on Monday, December 2nd. They set a “buy” rating and a $9.00 price objective for the company.

MediciNova Price Performance

NASDAQ:MNOV opened at $2.13 on Thursday. The business’s 50-day moving average price is $2.00 and its 200 day moving average price is $1.70. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.55. The firm has a market cap of $104.47 million, a P/E ratio of -10.14 and a beta of 0.84.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MediciNova stock. Geode Capital Management LLC increased its position in shares of MediciNova, Inc. (NASDAQ:MNOV) by 10.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 505,966 shares of the biopharmaceutical company’s stock after purchasing an additional 47,201 shares during the period. Geode Capital Management LLC owned about 1.03% of MediciNova worth $1,063,000 at the end of the most recent reporting period. 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.