StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV – Free Report) in a research note released on Sunday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.
MediciNova Stock Performance
NASDAQ MNOV opened at $1.13 on Friday. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.54. The company has a market capitalization of $55.42 million, a price-to-earnings ratio of -6.65 and a beta of 0.72. The stock’s 50 day moving average is $1.33 and its two-hundred day moving average is $1.37.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is currently owned by institutional investors and hedge funds.
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.
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