MediciNova, Inc. (NASDAQ:MNOV)’s share price shot up 8.7% during mid-day trading on Monday . The company traded as high as $9.18 and last traded at $9.10, 222,314 shares were traded during trading. An increase of 123% from the average session volume of 99,562 shares. The stock had previously closed at $8.37.
Separately, BidaskClub lowered shares of MediciNova from a “sell” rating to a “strong sell” rating in a research note on Friday, August 16th.
The business’s 50 day moving average price is $9.28 and its 200-day moving average price is $9.61. The firm has a market capitalization of $391.97 million, a price-to-earnings ratio of -25.42 and a beta of 1.19.
MediciNova Company Profile (NASDAQ:MNOV)
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. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological 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.
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