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

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

MEI Pharma Stock Performance

MEI Pharma stock opened at $2.80 on Monday. The firm has a market cap of $18.65 million, a price-to-earnings ratio of -0.40 and a beta of 0.79. MEI Pharma has a 52-week low of $2.61 and a 52-week high of $6.90. The firm has a 50 day moving average price of $2.85 and a two-hundred day moving average price of $2.98.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Corsair Capital Management L.P. bought a new stake in shares of MEI Pharma during the third quarter worth about $69,000. World Investment Advisors LLC acquired a new position in MEI Pharma during the 3rd quarter valued at about $71,000. Finally, National Bank of Canada FI increased its holdings in MEI Pharma by 43.5% during the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 52.38% of the company’s stock.

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.