MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at assumed coverage on shares of MediciNova (NASDAQ:MNOVFree Report) in a research note published on Sunday. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of MNOV stock opened at $1.31 on Friday. The stock’s fifty day moving average is $1.39 and its two-hundred day moving average is $1.43. The firm has a market capitalization of $64.26 million, a P/E ratio of -7.71 and a beta of 0.70. MediciNova has a fifty-two week low of $1.26 and a fifty-two week high of $2.66.

MediciNova (NASDAQ:MNOVGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). On average, equities analysts forecast that MediciNova will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of MediciNova, Inc. (NASDAQ:MNOVFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Institutional investors and hedge funds 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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