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

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research report report published on Friday. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

Shares of NASDAQ MNOV opened at $1.83 on Friday. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The firm has a fifty day moving average price of $1.83 and a 200-day moving average price of $1.53. The stock has a market cap of $89.76 million, a PE ratio of -8.71 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 bought a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 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.