StockNews.com Begins Coverage on MediciNova (NASDAQ:MNOV)

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

MediciNova Price Performance

MNOV stock opened at $1.54 on Friday. The company has a 50 day moving average price of $1.40 and a 200 day moving average price of $1.61. MediciNova has a fifty-two week low of $1.26 and a fifty-two week high of $2.66. The stock has a market capitalization of $75.54 million, a PE ratio of -9.06 and a beta of 0.75.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.04. As a group, equities analysts expect that MediciNova will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of MediciNova

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of MediciNova in the 4th quarter valued at $28,000. Squarepoint Ops LLC acquired a new position in MediciNova in the 4th quarter worth $38,000. Morgan Stanley boosted its stake in MediciNova by 93.0% in 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 period. ExodusPoint Capital Management LP acquired a new position in MediciNova in the 4th quarter worth $48,000. Finally, Virtu Financial LLC acquired a new position in MediciNova in the 4th quarter worth $53,000. Institutional investors 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.