MediciNova (NASDAQ:MNOV) Stock Crosses Above 200-Day Moving Average - Should You Sell?

MediciNova, Inc. (NASDAQ:MNOV - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.33 and traded as high as $1.4570. MediciNova shares last traded at $1.41, with a volume of 52,520 shares changing hands.Analyst Upgrades and DowngradesMNOV has been the topic of a number of analyst reports. D. Boral Capital restated a "buy" rating and issued a $9.00 price target on shares of MediciNova in a research note on Friday, October 31st. Weiss Ratings restated a "sell (d-)" rating on shares of MediciNova in a research note on Monday, November 24th. Finally, Zacks Research upgraded MediciNova to a "hold" rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, MediciNova currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.00.View Our Latest Stock Analysis on MediciNovaMediciNova Price PerformanceThe stock has a market cap of $69.16 million, a price-to-earnings ratio of -5.64 and a beta of 0.50. The stock's 50-day moving average is $1.34 and its 200 day moving average is $1.33. MediciNova (NASDAQ:MNOV - Get Free Report) last issued its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $0.12 million for the quarter. Analysts anticipate that MediciNova, Inc. will post -0.24 EPS for the current year. Institutional Investors Weigh In On MediciNovaAn institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC acquired a new stake in MediciNova, Inc. (NASDAQ:MNOV - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 72,897 shares of the biopharmaceutical company's stock, valued at approximately $92,000. Citadel Advisors LLC owned 0.15% of MediciNova as of its most recent SEC filing. Hedge funds and other institutional investors own 9.90% of the company's stock. About MediciNova (Get Free Report)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.Read MoreFive stocks we like better than MediciNovaHow to Capture the Benefits of Dividend IncreasesUp Over 20% in 2025, These 3 Stocks Are Boosting Buyback CapacityRoth IRA Calculator: Calculate Your Potential ReturnsCongress Beat the Market Again—Here Are the 3 Stocks They BoughtHow to Invest in Small Cap Stocks Go on a Shopping Spree With 3 Top Retail ETFsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in MediciNova Right Now?Before you consider MediciNova, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MediciNova wasn't on the list.While MediciNova currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here