MediciNova, Inc. (NASDAQ:MNOV) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its stake in MediciNova, Inc. (NASDAQ:MNOV) by 35.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,372 shares of the biopharmaceutical company’s stock after selling 38,322 shares during the period. Dimensional Fund Advisors LP owned approximately 0.14% of MediciNova worth $100,000 at the end of the most recent reporting period.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of MediciNova in a report on Monday. They issued a “hold” rating on the stock.

MediciNova Trading Up 2.3 %

MNOV opened at $1.81 on Wednesday. MediciNova, Inc. has a twelve month low of $1.12 and a twelve month high of $2.16. The stock has a market cap of $88.77 million, a PE ratio of -10.65 and a beta of 0.75. The business’s 50 day moving average is $1.65 and its 200-day moving average is $1.48.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, analysts forecast that MediciNova, Inc. will post -0.23 EPS for the current year.

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.