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 published on Thursday morning. The firm issued a buy rating on the stock.

MEI Pharma Stock Down 2.3 %

MEIP stock opened at $2.10 on Thursday. The stock’s 50 day moving average is $2.24 and its two-hundred day moving average is $2.58. MEI Pharma has a 52-week low of $1.46 and a 52-week high of $4.10. The company has a market capitalization of $13.99 million, a PE ratio of -0.37 and a beta of 0.75.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. As a group, sell-side analysts anticipate that MEI Pharma will post -5.1 EPS for the current year.

Institutional Trading of MEI Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of MEI Pharma in the 4th quarter worth approximately $26,000. Northern Trust Corp lifted its stake in MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after purchasing an additional 12,561 shares during the last quarter. Toronto Dominion Bank acquired a new position in MEI Pharma in the fourth quarter worth $62,000. Finally, World Investment Advisors LLC bought a new stake in MEI Pharma during the third quarter valued at $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.