Medicinova Inc (NASDAQ: MNOV) stock jumped 15.73% on Monday to $2.06 against a previous-day closing price of $1.78. With 4.47 million shares changed hands, the volume of the stock remained heavier than its average volume of 19900.0 shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $2.1600 whereas the lowest price it dropped to was $1.8500. The 52-week range on MNOV shows that it touched its highest point at $2.73 and its lowest point at $1.71 during that stretch. It currently has a 1-year price target of $16.50. Beta for the stock currently stands at 0.87.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MNOV was up-trending over the past week, with a rise of 14.76%, but this was up by 1.98% over a month. Three-month performance dropped to -12.71% while six-month performance fell -5.50%. The stock lost -5.50% in the past year, while it has gained 0.49% so far this year. A look at the trailing 12-month EPS for MNOV yields -0.19 with Next year EPS estimates of -0.32. For the next quarter, that number is -0.08. This implies an EPS growth rate of 3.45% for this year and -14.29% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 2.16%.
Float and Shares Shorts:
At present, 49.05 million MNOV shares are outstanding with a float of 46.48 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.24 million, which was 0.50% higher than short shares on Sep 28, 2023. In addition to Dr. Yuichi Iwaki M.D., Ph.D. as the firm’s Co-Founder, President, CEO & Executive Director, Dr. Kazuko Matsuda M.D., M.P.H., Ph.D. serves as its Chief Medical Officer & Director.
Through their ownership of 22.60% of MNOV’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 22.36% of MNOV, in contrast to 2.92% held by mutual funds. Shares owned by individuals account for 16.30%. As the largest shareholder in MNOV with 11.22% of the stake, 3D Investment Partners Pte Ltd. holds 5,502,047 shares worth 5,502,047. A second-largest stockholder of MNOV, BlackRock Fund Advisors, holds 686,722 shares, controlling over 1.40% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in MNOV, holding 601,244 shares or 1.23% stake. With a 1.23% stake in MNOV, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 601,244 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.52% of MNOV stock, is the second-largest Mutual Fund holder. It holds 254,408 shares valued at 0.49 million. Bridgeway Ultra Small Company Mar holds 0.29% of the stake in MNOV, owning 140,247 shares worth 0.27 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MNOV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MNOV analysts setting a high price target of $27.00 and a low target of $6.00, the average target price over the next 12 months is $16.50. Based on these targets, MNOV could surge 1210.68% to reach the target high and rise by 191.26% to reach the target low. Reaching the average price target will result in a growth of 700.97% from current levels.
Summary of Insider Activity:
Insiders traded MNOV stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 0 while 12,337 shares were sold.