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

Analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a note issued to investors on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Trading Up 4.2 %

MediciNova stock opened at $1.24 on Monday. The business’s 50 day simple moving average is $1.32 and its 200 day simple moving average is $1.36. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.49. The company has a market cap of $60.82 million, a price-to-earnings ratio of -7.29 and a beta of 0.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Institutional investors 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.