VY Capital Management Co. Ltd. acquired a new position in Lite Strategy, Inc. (NASDAQ:LITS – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,125,821 shares of the company’s stock, valued at approximately $15,620,844,000. Lite Strategy makes up approximately 0.0% of VY Capital Management Co. Ltd.’s holdings, making the stock its 3rd biggest holding. VY Capital Management Co. Ltd. owned about 0.18% of Lite Strategy at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Long Corridor Asset Management Ltd purchased a new stake in Lite Strategy in the second quarter worth approximately $2,619,000. Alpine Global Management LLC bought a new position in Lite Strategy during the 4th quarter valued at approximately $66,000. Virtu Financial LLC purchased a new stake in Lite Strategy in the fourth quarter worth $35,000. XTX Topco Ltd purchased a new stake in shares of Lite Strategy in the 4th quarter worth about $147,000. Finally, Quadrature Capital Ltd bought a new stake in Lite Strategy during the 4th quarter valued at approximately $112,000. 52.38% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently weighed in on LITS shares. Weiss Ratings upgraded Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Wall Street Zen raised Lite Strategy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.
Lite Strategy Price Performance
Shares of LITS stock opened at $0.98 on Friday. The company’s fifty day moving average price is $0.95 and its 200-day moving average price is $1.04. Lite Strategy, Inc. has a one year low of $0.69 and a one year high of $5.27. The company has a market capitalization of $33.36 million, a price-to-earnings ratio of -0.61 and a beta of 0.21.
Lite Strategy Company Profile
MEI Pharma, Inc, a late-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 that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.
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