MediciNova, Inc. (MNOV) Sees Significant Growth in Short Interest
MediciNova, Inc. (NASDAQ:MNOV) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 2,840,945 shares, a growth of 39.6% from the January 31st total of 2,034,335 shares. Based on an average daily trading volume, of 746,216 shares, the short-interest ratio is currently 3.8 days. Currently, 9.2% of the shares of the stock are short sold.
Institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its holdings in shares of MediciNova by 22.9% in the 2nd quarter. Voya Investment Management LLC now owns 19,341 shares of the biopharmaceutical company’s stock worth $102,000 after acquiring an additional 3,603 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of MediciNova in the 3rd quarter worth about $118,000. The Manufacturers Life Insurance Company lifted its holdings in shares of MediciNova by 1,645.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 29,002 shares of the biopharmaceutical company’s stock worth $187,000 after acquiring an additional 27,340 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of MediciNova in the 4th quarter worth about $198,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of MediciNova by 63.3% in the 3rd quarter. Wells Fargo & Company MN now owns 32,575 shares of the biopharmaceutical company’s stock worth $208,000 after acquiring an additional 12,624 shares during the last quarter. Hedge funds and other institutional investors own 18.52% of the company’s stock.
Shares of MediciNova (MNOV) opened at $11.29 on Friday. The stock has a market cap of $425.68, a PE ratio of -35.28 and a beta of 0.18. MediciNova has a twelve month low of $4.40 and a twelve month high of $11.45.
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Medicinova, Inc is a biopharmaceutical company. The Company focuses on acquiring and developing small molecule therapeutics for the treatment of diseases with unmet medical needs and a commercial focus on the United States market. Its pipeline includes MN-166 (ibudilast), MN-001 (tipelukast), MN-221 (bedoradrine) and MN-029 (denibulin).
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