MEI Pharma, Inc. (NASDAQ:MEIP) Short Interest Update

MEI Pharma, Inc. (NASDAQ:MEIP) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 20,900 shares, an increase of 167.9% from the March 31st total of 7,800 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 21,200 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Stifel Nicolaus restated a “hold” rating and issued a $7.00 price objective on shares of MEI Pharma in a research report on Friday, April 12th. StockNews.com began coverage on MEI Pharma in a research report on Sunday, April 21st. They issued a “buy” rating on the stock. Finally, TheStreet lowered shares of MEI Pharma from a “c-” rating to a “d+” rating in a research note on Thursday, February 1st.

MEI Pharma Price Performance

Shares of MEI Pharma stock traded down $0.05 during trading on Friday, hitting $3.05. 8,066 shares of the company were exchanged, compared to its average volume of 17,524. The firm has a market capitalization of $20.31 million, a P/E ratio of 1.03 and a beta of 0.77. The firm’s fifty day moving average price is $3.81 and its 200 day moving average price is $5.23. MEI Pharma has a 1-year low of $3.03 and a 1-year high of $7.97.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.46) by ($0.20). MEI Pharma had a return on equity of 39.72% and a net margin of 39.06%. As a group, equities research analysts anticipate that MEI Pharma will post 3.24 earnings per share for the current year.

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC bought a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up approximately 3.9% of Cable Car Capital LLC’s portfolio, making the stock its 10th largest position. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma as of its most recent filing with the Securities & Exchange Commission. 52.38% of the stock is currently 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.