MEI Pharma (NASDAQ:MEIP) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

MEI Pharma, Inc. (NASDAQ:MEIP)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.62 and traded as low as $1.97. MEI Pharma shares last traded at $2.04, with a volume of 32,777 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on MEI Pharma in a research note on Wednesday. They set a “buy” rating on the stock.

MEI Pharma Trading Up 6.8 %

The firm has a 50-day moving average price of $2.35 and a 200-day moving average price of $2.62. The stock has a market capitalization of $13.59 million, a PE ratio of -0.36 and a beta of 0.75.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) EPS for the quarter. Sell-side analysts expect that MEI Pharma, Inc. will post -5.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

Large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of MEI Pharma in the fourth quarter worth $26,000. World Investment Advisors LLC purchased a new stake in shares of MEI Pharma in the third quarter worth about $71,000. Northern Trust Corp lifted its stake in MEI Pharma by 54.5% in the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after purchasing an additional 12,561 shares in the last quarter. Finally, Toronto Dominion Bank bought a new position in MEI Pharma in the 4th quarter valued at $62,000. Hedge funds and other institutional investors own 52.38% of the company’s stock.

MEI Pharma Company Profile

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.