Investment analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV – Get Rating) in a research note issued on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.
MediciNova Stock Performance
NASDAQ MNOV opened at $2.17 on Tuesday. MediciNova has a 52-week low of $1.89 and a 52-week high of $2.77. The company has a 50-day simple moving average of $2.18 and a 200 day simple moving average of $2.26.
Hedge Funds Weigh In On MediciNova
Several large investors have recently modified their holdings of MNOV. Jane Street Group LLC purchased a new position in shares of MediciNova in the fourth quarter worth about $549,000. HRT Financial LP purchased a new position in shares of MediciNova in the fourth quarter worth about $367,000. Capricorn Fund Managers Ltd purchased a new position in shares of MediciNova in the fourth quarter worth about $137,000. Dimensional Fund Advisors LP increased its stake in shares of MediciNova by 46.7% in the first quarter. Dimensional Fund Advisors LP now owns 110,036 shares of the biopharmaceutical company’s stock worth $238,000 after purchasing an additional 35,031 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of MediciNova in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 25.18% of the company’s stock.
MediciNova Company Profile
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.
Further Reading
- Get a free copy of the StockNews.com research report on MediciNova (MNOV)
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