MediciNova (NASDAQ:MNOV) Now Covered by Analysts at StockNews.com

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

MediciNova Price Performance

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

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

Institutional Investors Weigh In On MediciNova

A number of 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 MediciNova in the 4th quarter worth about $28,000. Squarepoint Ops LLC bought a new stake in MediciNova in the 4th quarter worth about $38,000. Morgan Stanley grew its position 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 in the last quarter. ExodusPoint Capital Management LP bought a new stake in MediciNova in the 4th quarter worth about $48,000. Finally, Virtu Financial LLC bought a new stake in MediciNova in the 4th quarter worth about $53,000. Institutional investors and hedge funds own 9.90% of the company’s stock.

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.