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

Research analysts at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a note issued to investors on Thursday. The firm set a “buy” rating on the stock.

A number of other analysts have also recently commented on MEIP. Brookline Capital Management cut MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Price Performance

MEIP stock opened at $3.08 on Thursday. MEI Pharma has a 1-year low of $2.73 and a 1-year high of $7.87. The business has a fifty day moving average price of $3.18 and a 200-day moving average price of $3.28. The stock has a market capitalization of $20.51 million, a P/E ratio of 0.79 and a beta of 0.86.

Institutional Trading of MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC purchased a new position in MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest position. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma as of its most recent SEC filing. 52.38% of the stock is owned by hedge funds and other institutional investors.

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.