Geode Capital Management LLC Grows Holdings in MediciNova, Inc. (NASDAQ:MNOV)

Geode Capital Management LLC increased its holdings in shares of MediciNova, Inc. (NASDAQ:MNOV) by 10.3% in the third quarter, Holdings Channel reports. The firm owned 505,966 shares of the biopharmaceutical company’s stock after buying an additional 47,201 shares during the quarter. Geode Capital Management LLC’s holdings in MediciNova were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Jane Street Group LLC purchased a new stake in shares of MediciNova in the third quarter valued at about $30,000. Hedge funds and other institutional investors own 9.90% of the company’s stock.

MediciNova Stock Performance

Shares of MNOV opened at $1.99 on Friday. The stock has a market capitalization of $97.60 million, a P/E ratio of -9.48 and a beta of 0.84. MediciNova, Inc. has a 1 year low of $1.12 and a 1 year high of $2.55. The company’s fifty day moving average is $2.03 and its two-hundred day moving average is $1.72.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MNOV. StockNews.com began coverage on MediciNova in a report on Friday. They set a “hold” rating on the stock. D. Boral Capital initiated coverage on MediciNova in a research note on Monday, December 2nd. They issued a “buy” rating and a $9.00 target price on the stock.

About MediciNova

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.