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 sent to investors on Tuesday. The brokerage issued a buy rating on the stock.

MEI Pharma Stock Performance

MEIP opened at $2.72 on Tuesday. MEI Pharma has a one year low of $2.30 and a one year high of $4.82. The stock’s fifty day moving average is $2.68 and its 200-day moving average is $2.90. The company has a market capitalization of $18.12 million, a PE ratio of -0.39 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) EPS for the quarter. On average, equities research analysts forecast that MEI Pharma will post -5.1 EPS for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

A number of hedge funds have recently modified their holdings of MEIP. Corsair Capital Management L.P. purchased a new position in shares of MEI Pharma during the third quarter valued at $69,000. World Investment Advisors LLC purchased a new position in shares of MEI Pharma during the third quarter valued at $71,000. Finally, Virtu Financial LLC purchased a new position in shares of MEI Pharma during the fourth quarter valued at $26,000. 52.38% of the stock is currently 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.