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

by · The Cerbat Gem

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

MediciNova Stock Up 1.5 %

Shares of NASDAQ MNOV opened at $2.08 on Friday. The business has a 50-day moving average price of $1.84 and a 200 day moving average price of $1.56. The stock has a market cap of $102.02 million, a PE ratio of -9.90 and a beta of 0.77. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.55.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC increased its stake in shares of MediciNova, Inc. (NASDAQ:MNOV – Free Report) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 505,966 shares of the biopharmaceutical company’s stock after purchasing an additional 47,201 shares during the quarter. Geode Capital Management LLC owned 1.03% of MediciNova worth $1,063,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 9.90% of the company’s stock.

About MediciNova

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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.

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