MediciNova, Inc. (NASDAQ:MNOV) Short Interest Update

MediciNova, Inc. (NASDAQ:MNOV - Get Free Report) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 190,800 shares, a decrease of 17.6% from the March 31st total of 231,500 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 16,300 shares, the short-interest ratio is currently 11.7 days.

Institutional Trading of MediciNova

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of MediciNova in the 3rd quarter valued at about $30,000. Millennium Management LLC increased its position in MediciNova by 26.7% during the fourth quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company's stock worth $54,000 after acquiring an additional 5,470 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of MediciNova in the fourth quarter valued at approximately $78,000. SBI Securities Co. Ltd. acquired a new stake in MediciNova during the fourth quarter worth approximately $113,000. Finally, Barclays PLC increased its stake in MediciNova by 15.5% during the 4th quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company's stock worth $201,000 after acquiring an additional 12,800 shares during the period. 9.90% of the stock is owned by institutional investors.

MediciNova Trading Up 2.4 %

Shares of MNOV stock traded up $0.04 on Wednesday, hitting $1.52. 1,820 shares of the stock were exchanged, compared to its average volume of 38,340. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The business has a 50-day moving average of $1.46 and a 200 day moving average of $1.78. The firm has a market capitalization of $74.30 million, a P/E ratio of -6.59 and a beta of 0.46.

MediciNova (NASDAQ:MNOV - Get Free Report) last released its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.06). As a group, research analysts forecast that MediciNova will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MNOV shares. StockNews.com assumed coverage on shares of MediciNova in a research note on Friday, May 2nd. They issued a "hold" rating for the company. D. Boral Capital reaffirmed a "buy" rating and issued a $9.00 price target on shares of MediciNova in a research note on Wednesday, April 9th.

About MediciNova

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. It is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological and other 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, as well as prevention of acute respiratory distress syndrome, and long COVID.