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

Research analysts at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Monday. The brokerage set a “buy” rating on the stock.

MEI Pharma Stock Performance

MEIP opened at $2.70 on Monday. The company has a fifty day moving average price of $2.85 and a two-hundred day moving average price of $2.99. MEI Pharma has a 1-year low of $2.61 and a 1-year high of $6.91. The company has a market cap of $17.99 million, a P/E ratio of -0.39 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. On average, research analysts forecast that MEI Pharma will post -5.1 EPS for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI grew its position in MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after purchasing an additional 10,000 shares during the period. Corsair Capital Management L.P. acquired a new position in MEI Pharma during the third quarter worth $69,000. Finally, World Investment Advisors LLC bought a new position in shares of MEI Pharma in the third quarter valued at $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.