MediciNova, Inc. (NASDAQ:MNOV) Position Raised by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of MediciNova, Inc. (NASDAQ:MNOV) by 111.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,312 shares of the biopharmaceutical company’s stock after purchasing an additional 84,963 shares during the period. Bank of America Corp DE’s holdings in MediciNova were worth $339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNOV. SBI Securities Co. Ltd. bought a new stake in MediciNova during the fourth quarter worth approximately $113,000. Y Intercept Hong Kong Ltd bought a new position in shares of MediciNova in the fourth quarter valued at $78,000. Barclays PLC increased its holdings in shares of MediciNova by 15.5% in the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 12,800 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of MediciNova by 64.5% in the fourth quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 9,121 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of MediciNova by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company’s stock valued at $1,082,000 after buying an additional 8,948 shares in the last quarter. Institutional investors own 9.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MNOV shares. D. Boral Capital reiterated a “buy” rating and set a $9.00 price objective on shares of MediciNova in a research report on Wednesday, April 9th. Wall Street Zen began coverage on shares of MediciNova in a report on Sunday, May 18th. They issued a “hold” rating for the company.

MediciNova Price Performance

MediciNova stock opened at $1.38 on Friday. The firm has a market cap of $67.68 million, a price-to-earnings ratio of -6.00 and a beta of 0.42. MediciNova, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The firm has a fifty day moving average price of $1.42 and a two-hundred day moving average price of $1.71.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. As a group, sell-side analysts expect that MediciNova, Inc. will post -0.24 earnings per share for the current year.

MediciNova Company 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.