MediciNova (NASDAQ:MNOV) Receives New Coverage from Analysts at StockNews.com

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

MediciNova Stock Performance

NASDAQ MNOV opened at $1.45 on Thursday. The stock has a market capitalization of $71.12 million, a price-to-earnings ratio of -8.53 and a beta of 0.73. The stock’s 50 day moving average price is $1.39 and its two-hundred day moving average price is $1.67. MediciNova has a 52 week low of $1.26 and a 52 week high of $2.66.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of MediciNova during the 4th quarter worth approximately $28,000. Squarepoint Ops LLC acquired a new position in shares of MediciNova during the 4th quarter worth approximately $38,000. Morgan Stanley increased its position in shares of MediciNova by 93.0% during the 4th quarter. Morgan Stanley now owns 22,520 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 10,852 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of MediciNova during the 4th quarter worth approximately $48,000. Finally, Virtu Financial LLC acquired a new position in shares of MediciNova during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 9.90% of the company’s stock.

MediciNova Company Profile

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.