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

Posted by Maurice Goldstein on Apr 27th, 2024

MediciNova, Inc. (NASDAQ:MNOV – Get Free Report) saw a large decrease in short interest during 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 shares of the stock are sold short. Based on an average trading volume of 49,400 shares, the short-interest ratio is presently 5.0 days.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of MediciNova in a research note on Sunday, April 21st. They issued a “hold” rating for the company.

View Our Latest Stock Report on MNOV

MediciNova Trading Down 0.8 %

Shares of NASDAQ:MNOV opened at $1.31 on Friday. The company has a 50 day moving average of $1.40 and a 200-day moving average of $1.57. MediciNova has a one year low of $1.26 and a one year high of $2.66.

MediciNova (NASDAQ:MNOV – Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Research analysts forecast that MediciNova will post -0.23 EPS 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 acquired a new stake in MediciNova, Inc. (NASDAQ:MNOV – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 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.

About MediciNova

(Get Free Report)

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.