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

Analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Sunday. The firm set 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 capitalization 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 firm has a fifty day moving average price of $2.63 and a 200-day moving average price of $2.75.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. Analysts predict 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 made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of MEI Pharma in the fourth quarter valued at about $26,000. Corsair Capital Management L.P. bought a new stake in shares of MEI Pharma in the third quarter valued at about $69,000. Toronto Dominion Bank bought a new stake in shares of MEI Pharma in the fourth quarter valued at about $62,000. World Investment Advisors LLC bought a new stake in shares of MEI Pharma in the third quarter valued at about $71,000. Finally, Northern Trust Corp raised its holdings in MEI Pharma by 54.5% in the fourth 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. 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.