MEI Pharma (NASDAQ:MEIP) Now Covered by Analysts at StockNews.com

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

MEI Pharma Stock Performance

MEIP opened at $2.61 on Wednesday. MEI Pharma has a one year low of $2.30 and a one year high of $4.56. The company has a market cap of $17.35 million, a P/E ratio of -0.45 and a beta of 0.79. The business’s 50-day simple moving average is $2.67 and its 200-day simple moving average is $2.87.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) EPS for the quarter. As a group, analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in MEI Pharma in the 4th quarter valued at $26,000. Toronto Dominion Bank purchased a new position in MEI Pharma during the 4th quarter worth $62,000. Corsair Capital Management L.P. acquired a new position in MEI Pharma in the third quarter valued at $69,000. World Investment Advisors LLC purchased 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 shares of MEI Pharma by 54.5% in the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after buying an additional 12,561 shares during the last quarter. 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.