MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

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

MediciNova Stock Down 3.8 %

NASDAQ MNOV opened at $2.05 on Friday. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The firm has a market cap of $100.54 million, a price-to-earnings ratio of -9.76 and a beta of 0.77. The business has a 50-day moving average price of $1.83 and a 200-day moving average price of $1.55.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC grew its holdings in MediciNova, Inc. (NASDAQ:MNOV) by 10.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 505,966 shares of the biopharmaceutical company’s stock after buying an additional 47,201 shares during the period. Geode Capital Management LLC owned approximately 1.03% of MediciNova worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission. 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.