MEI Pharma (NASDAQ:MEIP) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report released on Sunday. The firm issued a buy rating on the stock.

MEI Pharma Trading Down 0.4 %

Shares of MEIP opened at $2.30 on Friday. The firm has a market cap of $15.32 million, a P/E ratio of -0.40 and a beta of 0.76. MEI Pharma has a 12-month low of $2.28 and a 12-month high of $4.15. The company’s 50-day moving average price is $2.63 and its 200 day moving average price is $2.74.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. Equities research analysts forecast that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Trading of MEI Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in MEI Pharma during the fourth quarter worth about $26,000. Toronto Dominion Bank purchased a new stake in shares of MEI Pharma during the fourth quarter worth approximately $62,000. Corsair Capital Management L.P. purchased a new stake in shares of MEI Pharma during the third quarter worth approximately $69,000. World Investment Advisors LLC purchased a new stake in shares of MEI Pharma during the third quarter worth approximately $71,000. Finally, Northern Trust Corp increased its stake in shares of MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after buying an additional 12,561 shares during the period. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

About MEI Pharma

MEI Pharma, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.