MediciNova (NASDAQ:MNOV) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research note released on Monday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Trading Down 2.4 %

MediciNova stock opened at $1.21 on Monday. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.49. The firm’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.36. The company has a market capitalization of $59.35 million, a P/E ratio of -7.12 and a beta of 0.72.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is 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.