MEI Pharma (NASDAQ:MEIP) Stock Price Passes Below 200-Day Moving Average of $5.89

Shares of MEI Pharma, Inc. (NASDAQ:MEIPGet Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.89 and traded as low as $3.65. MEI Pharma shares last traded at $3.69, with a volume of 64,336 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MEIP. Stifel Nicolaus reduced their price target on MEI Pharma from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, February 14th. TheStreet downgraded MEI Pharma from a “c-” rating to a “d+” rating in a research report on Thursday, February 1st. Finally, StockNews.com raised shares of MEI Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th.

Check Out Our Latest Stock Analysis on MEIP

MEI Pharma Stock Performance

The stock’s fifty day simple moving average is $4.85 and its two-hundred day simple moving average is $5.89. The company has a market cap of $24.59 million, a price-to-earnings ratio of 1.24 and a beta of 0.78.

MEI Pharma (NASDAQ:MEIPGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($1.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.20). MEI Pharma had a net margin of 39.06% and a return on equity of 39.72%. Analysts predict that MEI Pharma, Inc. will post 3.24 EPS for the current fiscal year.

Institutional Trading of MEI Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of MEIP. Simplex Trading LLC purchased a new stake in MEI Pharma during the second quarter worth approximately $28,000. National Bank of Canada FI acquired a new stake in MEI Pharma in the 4th quarter valued at $36,000. Vanguard Group Inc. raised its position in MEI Pharma by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 389,807 shares of the company’s stock valued at $2,261,000 after purchasing an additional 6,260 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of MEI Pharma by 46.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 26,869 shares of the company’s stock worth $156,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of MEI Pharma by 134.9% in the fourth quarter. Northern Trust Corp now owns 24,780 shares of the company’s stock worth $144,000 after buying an additional 14,230 shares during the period. Institutional investors and hedge funds own 41.92% of the company’s stock.

About MEI Pharma

(Get Free Report)

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.

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