MediciNova, Inc. (NASDAQ:MNOV) Short Interest Down 39.3% in December
by Sarita Garza · The Markets DailyMediciNova, Inc. (NASDAQ:MNOV – Get Free Report) saw a significant decrease in short interest in December. As of December 15th, there was short interest totaling 282,769 shares, a decrease of 39.3% from the November 30th total of 465,791 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 72,065 shares, the days-to-cover ratio is presently 3.9 days. Based on an average daily volume of 72,065 shares, the days-to-cover ratio is presently 3.9 days. Approximately 0.7% of the company’s shares are short sold.
Institutional Trading of MediciNova
A hedge fund recently bought a new stake 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. 9.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on MNOV shares. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a research note on Monday, December 22nd. D. Boral Capital reiterated a “buy” rating and set a $9.00 target price on shares of MediciNova in a research report on Thursday, December 18th. Finally, Zacks Research raised shares of MediciNova to a “hold” rating in a 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.
Read Our Latest Stock Report on MNOV
MediciNova Trading Up 0.8%
NASDAQ MNOV traded up $0.01 during trading hours on Monday, reaching $1.28. The company had a trading volume of 69,125 shares, compared to its average volume of 77,138. The stock has a market capitalization of $62.91 million, a P/E ratio of -5.12 and a beta of 0.48. The stock has a 50-day moving average of $1.42 and a 200 day moving average of $1.33. MediciNova has a 1-year low of $1.13 and a 1-year high of $2.20.
MediciNova (NASDAQ:MNOV – Get Free Report) last announced its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.12 million during the quarter. As a group, sell-side analysts predict that MediciNova will post -0.24 EPS for the current year.
About MediciNova
MediciNova, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel small-molecule therapeutics for neurodegenerative, inflammatory, fibrotic and oncological diseases. Founded in the late 1990s, the company advances its proprietary compounds through clinical trials and strategic partnerships, with a goal of addressing areas of high unmet medical need. MediciNova is headquartered in San Diego, California, and maintains a presence in Tokyo to support collaborations and regulatory interactions in Asian markets.
The company’s leading clinical asset, MN-166 (ibudilast), is an anti-inflammatory and neuroprotective agent originally approved in Japan for asthma and post-stroke dizziness.