Short Interest in MediciNova, Inc. (NASDAQ:MNOV) Increases By 19.3%

MediciNova, Inc. (NASDAQ:MNOVGet Free Report) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 224,600 shares, a growth of 19.3% from the August 31st total of 188,200 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 39,300 shares, the days-to-cover ratio is currently 5.7 days.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on MediciNova in a research note on Saturday. They issued a “hold” rating for the company.

Read Our Latest Report on MNOV

MediciNova Stock Performance

Shares of MediciNova stock traded up $0.19 on Monday, reaching $2.10. 49,867 shares of the stock were exchanged, compared to its average volume of 41,590. The firm has a market cap of $103.00 million, a PE ratio of -12.24 and a beta of 0.72. The firm’s 50 day moving average is $1.49 and its 200-day moving average is $1.43. MediciNova has a one year low of $1.12 and a one year high of $2.16.

MediciNova (NASDAQ:MNOVGet Free Report) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. On average, equities research analysts expect that MediciNova will post -0.23 EPS for the current fiscal year.

MediciNova Company Profile

(Get Free Report)

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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