MediciNova (NASDAQ:MNOV) Shares Cross Above 50-Day Moving Average of $9.68
MediciNova, Inc. (NASDAQ:MNOV)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $9.68 and traded as high as $9.80. MediciNova shares last traded at $9.71, with a volume of 31,965 shares changing hands.
A number of research analysts have issued reports on the company. BidaskClub lowered ZIX from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. B. Riley reissued a “buy” rating on shares of Spark Networks in a research report on Monday, March 25th.
The firm has a fifty day moving average of $9.68. The company has a market capitalization of $416.40 million, a price-to-earnings ratio of -26.89 and a beta of 1.20.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in MediciNova during the 1st quarter worth approximately $54,000. Alps Advisors Inc. raised its position in shares of MediciNova by 5.2% during the first quarter. Alps Advisors Inc. now owns 101,861 shares of the biopharmaceutical company’s stock worth $843,000 after purchasing an additional 5,077 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in shares of MediciNova during the first quarter worth $69,000. Metropolitan Life Insurance Co. NY raised its position in shares of MediciNova by 373.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,041 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 10,289 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in MediciNova by 52.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 266,343 shares of the biopharmaceutical company’s stock valued at $2,180,000 after buying an additional 91,812 shares during the period. 21.05% of the stock is currently owned by hedge funds and other institutional investors.
MediciNova Company Profile (NASDAQ:MNOV)
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. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological 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.
Recommended Story: Outperform Rating
Receive News & Ratings for MediciNova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MediciNova and related companies with MarketBeat.com's FREE daily email newsletter.