MediciNova, Inc. (NASDAQ:MNOV – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.69 and traded as high as $2.19. MediciNova shares last traded at $2.10, with a volume of 30,965 shares.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. D. Boral Capital assumed coverage on MediciNova in a research note on Monday, December 2nd. They set a “buy” rating and a $9.00 price target for the company. StockNews.com initiated coverage on MediciNova in a research note on Thursday. They set a “hold” rating for the company.
Read Our Latest Research Report on MNOV
MediciNova Price Performance
Hedge Funds Weigh In On MediciNova
A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC bought a new position in MediciNova, Inc. (NASDAQ:MNOV – Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is currently owned by hedge funds and other institutional investors.
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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