Schwab Charles Investment Management Inc. Boosts Holdings in MediciNova, Inc. (MNOV)

Schwab Charles Investment Management Inc. grew its holdings in MediciNova, Inc. (NASDAQ:MNOV) by 15.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,235 shares of the biopharmaceutical company’s stock after acquiring an additional 10,435 shares during the period. Schwab Charles Investment Management Inc. owned about 0.19% of MediciNova worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. BlackRock Inc. grew its stake in shares of MediciNova by 25.8% in the first quarter. BlackRock Inc. now owns 2,153,139 shares of the biopharmaceutical company’s stock worth $22,005,000 after acquiring an additional 441,945 shares in the last quarter. Northern Trust Corp grew its stake in shares of MediciNova by 12.2% in the first quarter. Northern Trust Corp now owns 416,579 shares of the biopharmaceutical company’s stock worth $4,258,000 after acquiring an additional 45,255 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of MediciNova by 20.3% in the second quarter. Bank of New York Mellon Corp now owns 151,609 shares of the biopharmaceutical company’s stock worth $1,207,000 after acquiring an additional 25,554 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of MediciNova in the first quarter worth $974,000. Finally, Alps Advisors Inc. grew its stake in shares of MediciNova by 11.0% in the second quarter. Alps Advisors Inc. now owns 59,686 shares of the biopharmaceutical company’s stock worth $475,000 after acquiring an additional 5,914 shares in the last quarter. Institutional investors and hedge funds own 21.52% of the company’s stock.

Shares of MNOV stock opened at $10.78 on Friday. MediciNova, Inc. has a 12 month low of $5.81 and a 12 month high of $14.50.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Monday, July 23rd. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Analysts forecast that MediciNova, Inc. will post -0.44 earnings per share for the current fiscal year.

Separately, BidaskClub upgraded shares of MediciNova from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd.

MediciNova 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.

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Institutional Ownership by Quarter for MediciNova (NASDAQ:MNOV)

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