Charles Schwab Investment Management Inc. Lowers Stock Position in MediciNova, Inc. (NASDAQ:MNOV)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of MediciNova, Inc. (NASDAQ:MNOV) by 47.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,506 shares of the biopharmaceutical company’s stock after selling 63,287 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.15% of MediciNova worth $150,000 as of its most recent SEC filing.

MediciNova Stock Up 0.5 %

Shares of MediciNova stock opened at $2.16 on Friday. The company has a market cap of $105.94 million, a P/E ratio of -10.29 and a beta of 0.84. The firm’s 50 day moving average price is $1.93 and its 200-day moving average price is $1.65. MediciNova, Inc. has a 52-week low of $1.12 and a 52-week high of $2.55.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MNOV. D. Boral Capital initiated coverage on MediciNova in a report on Monday, December 2nd. They set a “buy” rating and a $9.00 target price for the company. StockNews.com assumed coverage on MediciNova in a research note on Tuesday. They set a “hold” rating for the company.

About MediciNova

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.