Medicinova Stock Market Value
| MNOV Stock | USD 2.38 0.31 14.98% |
| Symbol | MediciNova |
MediciNova Price To Book Ratio
Is Biotechnology space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of MediciNova. If investors know MediciNova will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about MediciNova listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.21) | Revenue Per Share 0.02 | Return On Assets (0.1) | Return On Equity (0.13) |
The market value of MediciNova is measured differently than its book value, which is the value of MediciNova that is recorded on the company's balance sheet. Investors also form their own opinion of MediciNova's value that differs from its market value or its book value, called intrinsic value, which is MediciNova's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because MediciNova's market value can be influenced by many factors that don't directly affect MediciNova's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between MediciNova's value and its price as these two are different measures arrived at by different means. Investors typically determine if MediciNova is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MediciNova's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
MediciNova 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to MediciNova's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of MediciNova.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in MediciNova on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding MediciNova or generate 0.0% return on investment in MediciNova over 720 days. MediciNova is related to or competes with DiaMedica Therapeutics, Lyra Therapeutics, and Centessa Pharmaceuticals. MediciNova, Inc., a biopharmaceutical company, focuses on developing novel and small molecule therapeutics for the treat... More
MediciNova Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure MediciNova's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess MediciNova upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.19 | |||
| Information Ratio | 0.0946 | |||
| Maximum Drawdown | 61.3 | |||
| Value At Risk | (8.50) | |||
| Potential Upside | 12.43 |
MediciNova Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MediciNova's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MediciNova's standard deviation. In reality, there are many statistical measures that can use MediciNova historical prices to predict the future MediciNova's volatility.| Risk Adjusted Performance | 0.0942 | |||
| Jensen Alpha | 1.21 | |||
| Total Risk Alpha | (0.47) | |||
| Sortino Ratio | 0.1496 | |||
| Treynor Ratio | (0.38) |
MediciNova Backtested Returns
MediciNova appears to be risky, given 3 months investment horizon. MediciNova has Sharpe Ratio of 0.0781, which conveys that the firm had a 0.0781% return per unit of risk over the last 3 months. By analyzing MediciNova's technical indicators, you can evaluate if the expected return of 0.63% is justified by implied risk. Please exercise MediciNova's Risk Adjusted Performance of 0.0942, mean deviation of 4.83, and Downside Deviation of 5.19 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, MediciNova holds a performance score of 6. The company secures a Beta (Market Risk) of -2.36, which conveys a somewhat significant risk relative to the market. As returns on the market increase, returns on owning MediciNova are expected to decrease by larger amounts. On the other hand, during market turmoil, MediciNova is expected to outperform it. Please check MediciNova's total risk alpha, as well as the relationship between the downside variance and daily balance of power , to make a quick decision on whether MediciNova's current price movements will revert.
Auto-correlation | -0.59 |
Good reverse predictability
MediciNova has good reverse predictability. Overlapping area represents the amount of predictability between MediciNova time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of MediciNova price movement. The serial correlation of -0.59 indicates that roughly 59.0% of current MediciNova price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.59 | |
| Spearman Rank Test | 0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
MediciNova lagged returns against current returns
Autocorrelation, which is MediciNova stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting MediciNova's stock expected returns. We can calculate the autocorrelation of MediciNova returns to help us make a trade decision. For example, suppose you find that MediciNova has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
MediciNova regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If MediciNova stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MediciNova stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MediciNova stock over time.
Current vs Lagged Prices |
| Timeline |
MediciNova Lagged Returns
When evaluating MediciNova's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MediciNova stock have on its future price. MediciNova autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, MediciNova autocorrelation shows the relationship between MediciNova stock current value and its past values and can show if there is a momentum factor associated with investing in MediciNova.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for MediciNova Stock Analysis
When running MediciNova's price analysis, check to measure MediciNova's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy MediciNova is operating at the current time. Most of MediciNova's value examination focuses on studying past and present price action to predict the probability of MediciNova's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MediciNova's price. Additionally, you may evaluate how the addition of MediciNova to your portfolios can decrease your overall portfolio volatility.