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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Friday. The brokerage issued a buy rating on the stock.

MEI Pharma Trading Down 1.2 %

MEI Pharma stock opened at $2.40 on Friday. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $4.24. The stock’s 50 day moving average is $2.68 and its 200-day moving average is $2.80. The company has a market capitalization of $15.99 million, a price-to-earnings ratio of -0.42 and a beta of 0.79.

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

Hedge Funds Weigh In On MEI Pharma

Several institutional investors and hedge funds have recently made changes to their positions in MEIP. Virtu Financial LLC acquired a new stake in MEI Pharma during the fourth quarter worth approximately $26,000. Northern Trust Corp grew its position 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 buying an additional 12,561 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in MEI Pharma during the third quarter worth approximately $69,000. Toronto Dominion Bank acquired a new stake in MEI Pharma during the fourth quarter worth approximately $62,000. Finally, World Investment Advisors LLC acquired a new stake in MEI Pharma during the third quarter worth approximately $71,000. 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.