In the latest trading session, 17.15 million MediciNova Inc. (NASDAQ:MNOV) shares changed hands as the company’s beta touched 1.41. With the company’s most recent per share price at $4.32 changing hands around $0.56 or 15.03% at last look, the market valuation stands at $186.80M. MNOV’s current price is a discount, trading about -206.71% off its 52-week high of $13.25. The share price had its 52-week low at $3.71, which suggests the last value was 14.12% up since then. When we look at MediciNova Inc.’s average trading volume, we note the 10-day average is 0.27 million shares, with the 3-month average coming to 304.66K.
Analysts gave the MediciNova Inc. (MNOV) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended MNOV as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. MediciNova Inc.’s EPS for the current quarter is expected to be -$0.09.
MediciNova Inc. (NASDAQ:MNOV) trade information
Instantly MNOV is in green as seen in intraday trades today. With action -12.15%, the performance over the past five days has been red. The jump to weekly highs of 5.09 on Friday, 06/18/21 added 15.03% to the stock’s daily price. The company’s shares are showing year-to-date downside of -28.52%, with the 5-day performance at -12.15% in the red. However, in the 30-day time frame, MediciNova Inc. (NASDAQ:MNOV) is -10.69% down. Looking at the short shares, we see there were 3.9 million shares sold at short interest cover period of 13.08 days.
The consensus price target for the stock as assigned by Wall Street analysts is $17.50, meaning bulls need an upside of 75.31% from its recent market value. According to analyst projections, MNOV’s forecast low is $11.00 with $26.50 as the target high. To hit the forecast high, the stock’s price needs a -513.43% plunge from its current level, while the stock would need to soar -154.63% for it to hit the projected low.
MediciNova Inc. (MNOV) estimates and forecasts
Data shows that the MediciNova Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -38.86% over the past 6 months, a 0.00% in annual growth rate that is considerably lower than the industry average of 9.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for MediciNova Inc. will rise 10.00%, while the growth in revenue is estimated to hit -12.50% for the next quarter.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 1.30%. The 2021 estimates are for MediciNova Inc. earnings to decrease by -4.00%, but the outlook for the next 5-year period is at 20.00% per year.
MediciNova Inc. (NASDAQ:MNOV)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.52% of MediciNova Inc. shares while 34.75% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 35.65%. There are 34.75% institutions holding the MediciNova Inc. stock share, with Blackrock Inc. the top institutional holder. As of Mar 30, 2021, the company held 6.95% of the shares, roughly 3.39 million MNOV shares worth $17.11 million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 4.44% or 2.17 million shares worth $10.94 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 1.16 million shares estimated at $5.87 million under it, the former controlled 2.38% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.22% of the shares, roughly 1.08 million shares worth around $5.46 million.