Equities researchers at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV – Get Rating) in a research note issued to investors on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.
MediciNova Stock Performance
Shares of MNOV opened at $2.12 on Friday. MediciNova has a one year low of $1.89 and a one year high of $2.77. The firm has a 50 day simple moving average of $2.17 and a two-hundred day simple moving average of $2.25.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of MediciNova by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 437,247 shares of the biopharmaceutical company’s stock worth $896,000 after buying an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of MediciNova by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 308,276 shares of the biopharmaceutical company’s stock worth $823,000 after purchasing an additional 7,110 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of MediciNova in the fourth quarter worth $549,000. HRT Financial LP bought a new stake in shares of MediciNova in the fourth quarter worth $367,000. Finally, Bank of America Corp DE grew its stake in shares of MediciNova by 14.5% in the fourth quarter. Bank of America Corp DE now owns 177,259 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 22,508 shares during the last quarter. 25.18% of the stock is currently owned by institutional investors and hedge funds.
About MediciNova
MediciNova, Inc is a biopharmaceutical company, which engages in the acquisition and development of small molecule therapeutics for the treatment of diseases with unmet medical needs. Its development pipeline consists of clinical-stage compounds for the treatment of acute exacerbations of asthma and COPD, progressive multiple sclerosis, methamphetamine addiction, neuropathic pain, asthma, interstitial cystitis, and solid tumor cancers.
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