MediciNova June 15th Short Interest Update

MediciNova (NASDAQ:MNOV) has witnessed a drop of 5.6% or 160,378 shares in its short figure. The short interest diminution took it from 2,853,692 on May 31,2016 to 2,693,314 on June 15,2016. In terms of floated shares, the short interest was calculated to be 9.4%. The days to cover are 23 given that the daily volume averaged 116,811 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

MediciNova (NASDAQ:MNOV): The stock opened at $6.90 on Friday but the bulls could not build on the opening and the stock topped out at $7.50 for the day. The stock traded down to $6.48 during the day, due to lack of any buying support eventually closed down at $7.00 with a loss of -1.55% for the day. The stock had closed at $7.11 on the previous day. The total traded volume was 3,605,176 shares.

The company shares have rallied 76.32% from its 1 Year high price. On Apr 18, 2016, the shares registered one year high at $10.16 and the one year low was seen on Oct 21, 2015. The 50-Day Moving Average price is $6.66 and the 200 Day Moving Average price is recorded at $5.76.

MediciNova (NASDAQ:MNOV) has climbed 10.59% in the past week and advanced 3.86% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 12.42% and the outperformance has advanced to 7% for the last 4 weeks period.

MediciNova, Inc. is a biopharmaceutical company. The Company is focused on acquiring and developing small molecule therapeutics for the treatment of serious diseases with unmet medical needs and a commercial focus on the United States market. It is focused on its development activities on MN-166 (ibudilast) for neurological disorders, such as progressive multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS) and substance dependence, and MN-001 (tipelukast) for fibrotic diseases, such as nonalcoholic steatohepatitis (NASH) and idiopathic pulmonary fibrosis (IPF). Its pipeline includes MN-221 (bedoradrine) for the treatment of acute exacerbation of asthma and MN-029 (denibulin) for solid tumor cancers.

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