MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report report published on Monday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Trading Down 3.6 %

Shares of MEIP stock opened at $2.70 on Monday. The firm has a market capitalization of $17.98 million, a price-to-earnings ratio of -0.39 and a beta of 0.79. The business’s 50-day moving average price is $2.85 and its 200-day moving average price is $2.98. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $6.76.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share for the quarter. On average, sell-side analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI raised its position in shares of MEI Pharma by 43.5% during the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after acquiring an additional 10,000 shares during the last quarter. Corsair Capital Management L.P. bought a new position in MEI Pharma during the 3rd quarter worth approximately $69,000. Finally, World Investment Advisors LLC bought a new position in MEI Pharma during the 3rd quarter worth approximately $71,000. 52.38% of the stock is owned by institutional investors and hedge funds.

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.