MediciNova (MNOV) Reaches New 52-Week High at $13.37

MediciNova, Inc. (NASDAQ:MNOV) shares hit a new 52-week high during trading on Thursday . The company traded as high as $13.37 and last traded at $13.19, with a volume of 5804 shares changing hands. The stock had previously closed at $12.96.

MNOV has been the topic of a number of research reports. BidaskClub upgraded shares of MediciNova from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. B. Riley reiterated a “buy” rating and issued a $22.00 price target on shares of MediciNova in a research note on Monday, March 25th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new stake in MediciNova in the 1st quarter valued at about $54,000. BNP Paribas Arbitrage SA bought a new stake in MediciNova in the 1st quarter valued at about $69,000. Citigroup Inc. boosted its holdings in MediciNova by 30.3% in the 1st quarter. Citigroup Inc. now owns 11,411 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 2,651 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in MediciNova by 373.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,041 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 10,289 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in MediciNova by 47.2% in the 1st quarter. JPMorgan Chase & Co. now owns 15,101 shares of the biopharmaceutical company’s stock valued at $126,000 after purchasing an additional 4,844 shares during the period. 21.30% of the stock is owned by hedge funds and other institutional investors.

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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.

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