StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV – Free Report) in a research note published on Friday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.
MediciNova Price Performance
Shares of MediciNova stock traded up $0.01 during midday trading on Friday, reaching $1.83. The company had a trading volume of 39,944 shares, compared to its average volume of 48,309. The firm has a market cap of $89.76 million, a PE ratio of -8.71 and a beta of 0.77. The stock has a fifty day moving average price of $1.83 and a 200 day moving average price of $1.52. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55.
Institutional Trading of MediciNova
An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC lifted its holdings in shares of MediciNova, Inc. (NASDAQ:MNOV – Free Report) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 505,966 shares of the biopharmaceutical company’s stock after purchasing an additional 47,201 shares during the quarter. Geode Capital Management LLC owned 1.03% of MediciNova worth $1,063,000 at the end of the most recent quarter. 9.90% of the stock is owned by hedge funds and other 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.
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