MEI Pharma (NASDAQ:MEIP) Shares Cross Below 200-Day Moving Average – Time to Sell?

MEI Pharma, Inc. (NASDAQ:MEIP)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.03 and traded as low as $2.94. MEI Pharma shares last traded at $3.17, with a volume of 105,779 shares.

Wall Street Analyst Weigh In

MEIP has been the subject of a number of analyst reports. StockNews.com assumed coverage on shares of MEI Pharma in a research report on Wednesday. They issued a “buy” rating for the company. Laidlaw downgraded MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Brookline Capital Management downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.00.

MEI Pharma Stock Performance

The company’s fifty day simple moving average is $2.93 and its two-hundred day simple moving average is $3.03. The company has a market capitalization of $20.65 million, a price-to-earnings ratio of 1.16 and a beta of 0.85.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($1.48) by $0.35. Sell-side analysts anticipate that MEI Pharma, Inc. will post -5.1 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI increased its holdings in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the period. National Bank of Canada FI owned about 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the SEC. 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.