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

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

MEI Pharma Price Performance

NASDAQ:MEIP opened at $2.36 on Wednesday. MEI Pharma has a one year low of $2.30 and a one year high of $6.39. The company has a fifty day moving average price of $2.82 and a 200 day moving average price of $2.96. The stock has a market cap of $15.72 million, a P/E ratio of -0.34 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. As a group, equities research analysts anticipate that MEI Pharma will post -5.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI increased its holdings 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 buying an additional 10,000 shares during the period. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma during the 3rd quarter valued at about $69,000. Finally, World Investment Advisors LLC bought a new stake in MEI Pharma in the third quarter valued at about $71,000. 52.38% of the stock is owned by institutional investors.

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.