MNOV Stock Summary and Trading Ideas (Medicinova | NASDAQ:MNOV)

MediciNova Inc is a biopharmaceutical company. The company acquires and develops small-molecule therapeutics for the treatment of diseases with unmet medical needs with a specific focus on the U.S. market. Its products portfolio includes therapeutics such as MN-001, MN-166, MN-221 etc. The firm's current strategy is to focus its development activities on therapeutics for neurological disorders and fibrotic diseases.

Medicinova trades on the NASDAQ stock market under the symbol MNOV.

As of November 13, 2024, MNOV stock price declined to $2.00 with 191,833 million shares trading.

MNOV has a beta of -1.44, meaning it tends to be less sensitive to market movements. MNOV has a correlation of 0.09 to the broad based SPY ETF.

MNOV has a market cap of $98.09 million. This is considered a Micro Cap stock.

In the last 3 years, MNOV traded as high as $4.65 and as low as $1.12.

The top ETF exchange traded funds that MNOV belongs to (by Net Assets): VXF, IWC, DFAC.

MNOV has underperformed the market in the last year with a return of +12.4%, while SPY returned +37.1%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in MNOV shares. However, MNOV has outperformed the market in the last 3 month and 2 week periods, returning +77.0% and +14.3%, while SPY returned +12.3% and +2.7%, respectively. This indicates MNOV has been having a stronger performance recently.

MNOV support price is $2.15 and resistance is $2.42 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MNOV shares will trade within this expected range on the day.