MediciNova (NASDAQ:MNOV) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

MediciNova, Inc. (NASDAQ:MNOV) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.34 and traded as high as $1.5543. MediciNova shares last traded at $1.52, with a volume of 31,356 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on MNOV. D. Boral Capital restated a “buy” rating and set a $9.00 price target on shares of MediciNova in a report on Monday, December 8th. Zacks Research raised shares of MediciNova to a “hold” rating in a research report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.00.

MediciNova Trading Down 1.3%

The stock’s 50-day moving average price is $1.39 and its two-hundred day moving average price is $1.34. The stock has a market capitalization of $74.71 million, a P/E ratio of -6.08 and a beta of 0.48.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.12 million during the quarter. On average, equities research analysts predict that MediciNova, Inc. will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC bought a new position in MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned approximately 0.15% of MediciNova as of its most recent SEC filing. Institutional investors and hedge funds own 9.90% of the company’s stock.

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.