Rhumbline Advisers Has $194,000 Stake in MediciNova, Inc. (MNOV)

Rhumbline Advisers reduced its position in shares of MediciNova, Inc. (NASDAQ:MNOV) by 19.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,020 shares of the biopharmaceutical company’s stock after selling 7,033 shares during the quarter. Rhumbline Advisers owned about 0.08% of MediciNova worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in MediciNova by 5.7% during the 2nd quarter. State Street Corp now owns 467,451 shares of the biopharmaceutical company’s stock worth $2,458,000 after purchasing an additional 25,118 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in MediciNova by 23.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 57,200 shares of the biopharmaceutical company’s stock worth $371,000 after purchasing an additional 10,800 shares during the period. Wells Fargo & Company MN increased its holdings in MediciNova by 39.2% during the 4th quarter. Wells Fargo & Company MN now owns 45,350 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 12,775 shares during the period. Alps Advisors Inc. purchased a new position in MediciNova during the 4th quarter worth $259,000. Finally, The Manufacturers Life Insurance Company increased its holdings in MediciNova by 1,645.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 29,002 shares of the biopharmaceutical company’s stock worth $187,000 after purchasing an additional 27,340 shares during the period. Institutional investors own 18.79% of the company’s stock.

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Several research analysts have commented on the company. BidaskClub downgraded MediciNova from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 21st. ValuEngine upgraded MediciNova from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. Finally, B. Riley assumed coverage on MediciNova in a report on Wednesday, March 28th. They issued a “buy” rating and a $22.00 price target on the stock.

Shares of NASDAQ:MNOV opened at $12.16 on Wednesday. MediciNova, Inc. has a 12-month low of $4.40 and a 12-month high of $14.50.

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MediciNova Company Profile

MediciNova, Inc, a biopharmaceutical company, focuses on acquiring and developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. The company's product candidate includes MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for the treatment of neurological disorders consisting of primary and secondary progressive multiple sclerosis; amyotrophic lateral sclerosis; and substance dependence and addiction.

Institutional Ownership by Quarter for MediciNova (NASDAQ:MNOV)

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