MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at StockNews.com

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

MediciNova Price Performance

NASDAQ:MNOV opened at $1.35 on Thursday. The stock has a market cap of $66.22 million, a P/E ratio of -7.94 and a beta of 0.70. MediciNova has a one year low of $1.26 and a one year high of $2.66. The company has a fifty day moving average price of $1.41 and a 200 day moving average price of $1.50.

Hedge Funds Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is currently owned by institutional investors.

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.