MediciNova (NASDAQ:MNOV) Trading 14.5% Higher

MediciNova, Inc. (NASDAQ:MNOV) traded up 14.5% during trading on Friday . The company traded as high as $10.84 and last traded at $10.42, 449,556 shares were traded during mid-day trading. An increase of 367% from the average session volume of 96,309 shares. The stock had previously closed at $9.10.

A number of research analysts have commented on the company. B. Riley restated a “buy” rating on shares of Spark Networks in a research note on Monday, March 25th. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th.

The company has a 50 day moving average price of $9.85.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. On average, sell-side analysts predict that MediciNova, Inc. will post -0.71 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in shares of MediciNova by 5.2% during the 1st quarter. Alps Advisors Inc. now owns 101,861 shares of the biopharmaceutical company’s stock worth $843,000 after acquiring an additional 5,077 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of MediciNova by 17.2% during the 4th quarter. New York State Common Retirement Fund now owns 40,867 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 6,000 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of MediciNova during the 1st quarter worth about $54,000. BNP Paribas Arbitrage SA bought a new stake in shares of MediciNova during the 1st quarter worth about $69,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of MediciNova by 373.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,041 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 10,289 shares in the last quarter. Institutional investors own 21.05% of the company’s stock.

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.

Further Reading: Why investors pay attention to retained earnings

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