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

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

MEI Pharma Stock Performance

NASDAQ MEIP opened at $2.59 on Thursday. The firm’s 50 day moving average price is $2.68 and its 200-day moving average price is $2.84. MEI Pharma has a 52-week low of $2.30 and a 52-week high of $4.33. The company has a market cap of $17.26 million, a PE ratio of -0.45 and a beta of 0.79.

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

Institutional Investors Weigh In On MEI Pharma

Several institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in MEI Pharma in the fourth quarter valued at approximately $26,000. Northern Trust Corp boosted its stake in 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 acquiring an additional 12,561 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in MEI Pharma in the third quarter valued at approximately $69,000. Toronto Dominion Bank acquired a new stake in MEI Pharma in the fourth quarter valued at approximately $62,000. Finally, World Investment Advisors LLC acquired a new stake in MEI Pharma in the third quarter valued at approximately $71,000. 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.