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

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

MediciNova Stock Down 1.9 %

Shares of NASDAQ:MNOV opened at $1.51 on Friday. MediciNova has a twelve month low of $1.26 and a twelve month high of $2.66. The stock has a market capitalization of $74.07 million, a PE ratio of -8.88 and a beta of 0.75. The firm’s 50 day moving average price is $1.40 and its 200-day moving average price is $1.60.

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

Institutional Investors Weigh In On MediciNova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNOV. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in MediciNova during the 4th quarter valued at approximately $28,000. Capricorn Fund Managers Ltd purchased a new stake in MediciNova during the 3rd quarter valued at approximately $64,000. BlackRock Inc. grew its holdings in MediciNova by 2.3% during the 2nd quarter. BlackRock Inc. now owns 731,369 shares of the biopharmaceutical company’s stock valued at $1,682,000 after buying an additional 16,488 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in MediciNova by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 114,773 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 4,737 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in MediciNova during the 4th quarter valued at approximately $549,000. 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.