MediciNova (NASDAQ:MNOV) Shares Up 8.7%

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.



Several institutional investors have recently modified their holdings of MNOV. Geode Capital Management LLC grew its stake in shares of MediciNova by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 416,581 shares of the biopharmaceutical company’s stock worth $3,403,000 after acquiring an additional 24,391 shares in the last quarter. Bank of America Corp DE grew its stake in shares of MediciNova by 231.3% in the fourth quarter. Bank of America Corp DE now owns 35,328 shares of the biopharmaceutical company’s stock worth $288,000 after acquiring an additional 24,664 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of MediciNova by 373.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,041 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 10,289 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of MediciNova in the first quarter worth $69,000. Finally, Alps Advisors Inc. grew its stake in shares of MediciNova by 5.2% in the first quarter. Alps Advisors Inc. now owns 101,861 shares of the biopharmaceutical company’s stock worth $843,000 after acquiring an additional 5,077 shares in the last quarter. Institutional investors and hedge funds own 21.69% of the company’s stock.

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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