StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

Research analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a note issued to investors on Tuesday. The brokerage set a “buy” rating on the stock.

MEI Pharma Stock Down 1.5 %

NASDAQ:MEIP opened at $2.66 on Tuesday. The company’s 50 day moving average price is $2.68 and its 200-day moving average price is $2.90. MEI Pharma has a 52 week low of $2.30 and a 52 week high of $4.90. The stock has a market cap of $17.72 million, a price-to-earnings ratio of -0.38 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. As a group, sell-side analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of MEI Pharma during the 4th quarter valued at $26,000. Corsair Capital Management L.P. purchased a new position in shares of MEI Pharma in the 3rd quarter worth $69,000. Finally, World Investment Advisors LLC purchased a new position in shares of MEI Pharma in the 3rd quarter worth $71,000. 52.38% of the stock is currently owned by 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.