MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital began coverage on MediciNova in a research report on Monday, December 2nd. They set a “buy” rating and a $9.00 price target on the stock.

MediciNova Stock Up 1.6 %

Shares of NASDAQ MNOV opened at $1.87 on Tuesday. The business’s 50 day moving average price is $2.02 and its two-hundred day moving average price is $1.81. The company has a market cap of $91.72 million, a PE ratio of -8.90 and a beta of 0.82. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55.

Institutional Investors Weigh In On MediciNova

Several institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its stake in shares of MediciNova by 15.5% in the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 12,800 shares during the period. Geode Capital Management LLC increased its holdings in shares of MediciNova by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company’s stock worth $1,082,000 after buying an additional 8,948 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in MediciNova in the fourth quarter valued at $113,000. Y Intercept Hong Kong Ltd acquired a new stake in MediciNova in the fourth quarter valued at $78,000. Finally, Jane Street Group LLC acquired a new stake in MediciNova in the third quarter valued at $30,000. 9.90% of the stock is currently 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.