Y Intercept Hong Kong Ltd Makes New $78,000 Investment in MediciNova, Inc. (NASDAQ:MNOV)

Y Intercept Hong Kong Ltd purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,957 shares of the biopharmaceutical company’s stock, valued at approximately $78,000. Y Intercept Hong Kong Ltd owned 0.08% of MediciNova at the end of the most recent reporting period.

Separately, Jane Street Group LLC purchased a new stake in shares of MediciNova in the third quarter worth $30,000. 9.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. D. Boral Capital restated a “buy” rating and issued a $9.00 target price on shares of MediciNova in a research note on Friday, February 21st. StockNews.com started coverage on shares of MediciNova in a research report on Thursday, February 27th. They issued a “hold” rating on the stock.

MediciNova Stock Performance

NASDAQ MNOV opened at $1.59 on Thursday. The company has a market capitalization of $77.98 million, a P/E ratio of -6.91 and a beta of 0.82. MediciNova, Inc. has a 52-week low of $1.12 and a 52-week high of $2.55. The company has a fifty day moving average of $1.90 and a 200-day moving average of $1.87.

MediciNova (NASDAQ:MNOV) last issued its quarterly earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). As a group, analysts forecast that MediciNova, Inc. will post -0.24 EPS for the current fiscal year.

MediciNova Profile

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.