BidaskClub upgraded shares of MediciNova (NASDAQ:MNOV) from a sell rating to a hold rating in a report published on Monday morning.

Shares of NASDAQ:MNOV traded up $0.47 during trading on Monday, hitting $9.65. The company’s stock had a trading volume of 1,906 shares, compared to its average volume of 105,596. The stock has a market cap of $390.33 million, a price-to-earnings ratio of -29.64 and a beta of 1.04. MediciNova has a fifty-two week low of $6.87 and a fifty-two week high of $14.50.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc increased its holdings in MediciNova by 1.4% in the third quarter. Vanguard Group Inc now owns 1,584,153 shares of the biopharmaceutical company’s stock valued at $19,787,000 after buying an additional 22,432 shares during the last quarter. Vanguard Group Inc. increased its holdings in MediciNova by 1.4% in the third quarter. Vanguard Group Inc. now owns 1,584,153 shares of the biopharmaceutical company’s stock valued at $19,787,000 after buying an additional 22,432 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in MediciNova by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 28,927 shares of the biopharmaceutical company’s stock valued at $361,000 after buying an additional 10,289 shares during the last quarter. Jane Street Group LLC increased its holdings in MediciNova by 72.7% in the third quarter. Jane Street Group LLC now owns 20,900 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 8,800 shares during the last quarter. Finally, Bridgeway Capital Management Inc. increased its holdings in MediciNova by 35.8% in the third quarter. Bridgeway Capital Management Inc. now owns 132,710 shares of the biopharmaceutical company’s stock valued at $1,658,000 after buying an additional 35,000 shares during the last quarter. 20.91% of the stock is owned by hedge funds and other institutional investors.

MediciNova Company Profile

MediciNova, Inc, a biopharmaceutical company, focuses on acquiring and developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. The company's product candidate includes MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for the treatment of neurological disorders consisting of primary and secondary progressive multiple sclerosis; amyotrophic lateral sclerosis; and substance dependence and addiction.

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