Geode Capital Management LLC grew its holdings in MediciNova, Inc. (NASDAQ:MNOV – Free Report) by 10.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 505,966 shares of the biopharmaceutical company’s stock after acquiring an additional 47,201 shares during the quarter. Geode Capital Management LLC owned about 1.03% of MediciNova worth $1,063,000 at the end of the most recent reporting period.
Separately, Jane Street Group LLC acquired a new position in MediciNova in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 9.90% of the company’s stock.
Wall Street Analyst Weigh In
MNOV has been the topic of a number of research analyst reports. StockNews.com assumed coverage on shares of MediciNova in a report on Friday. They set a “hold” rating on the stock. D. Boral Capital began coverage on shares of MediciNova in a research note on Monday, December 2nd. They set a “buy” rating and a $9.00 price target on the stock.
MediciNova Stock Performance
MNOV opened at $1.99 on Friday. MediciNova, Inc. has a one year low of $1.12 and a one year high of $2.55. The stock has a market capitalization of $97.60 million, a P/E ratio of -9.48 and a beta of 0.84. The business’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $1.72.
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.
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