MediciNova, Inc. (NASDAQ:MNOV) Short Interest Down 26.0% in April

MediciNova, Inc. (NASDAQ:MNOV - Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 247,000 shares, a decrease of 26.0% from the March 31st total of 333,600 shares. Approximately 0.5% of the company's shares are short sold. Based on an average daily trading volume, of 49,400 shares, the short-interest ratio is presently 5.0 days.

MediciNova Price Performance

MNOV traded down $0.01 during mid-day trading on Friday, hitting $1.31. The stock had a trading volume of 6,519 shares, compared to its average volume of 31,392. The stock's fifty day simple moving average is $1.40 and its 200-day simple moving average is $1.57. The firm has a market capitalization of $64.26 million, a price-to-earnings ratio of -7.71 and a beta of 0.75. MediciNova has a 1-year low of $1.26 and a 1-year high of $2.66.

MediciNova (NASDAQ:MNOV - Get Free Report) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.04. As a group, research analysts expect that MediciNova will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich bought a new position in MediciNova, Inc. (NASDAQ:MNOV - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 19,000 shares of the biopharmaceutical company's stock, valued at approximately $28,000. Institutional investors and hedge funds own 9.90% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of MediciNova in a report on Sunday, April 21st. They issued a "hold" rating on the stock.

MediciNova Company Profile

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.