MEI Pharma (NASDAQ:MEIP) Stock Passes Below Two Hundred Day Moving Average of $0.00

MEI Pharma Inc (NASDAQ:MEIP) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as low as $1.88. MEI Pharma shares last traded at $1.90, with a volume of 8,977 shares changing hands.

Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of XCel Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Zacks Investment Research lowered shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, HC Wainwright set a $126.00 target price on shares of AnaptysBio and gave the company a “buy” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $7.06.

The firm has a market cap of $138.30 million, a PE ratio of -2.49 and a beta of 1.73. The stock has a 50-day moving average price of $2.44.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $1.25 million for the quarter, compared to analyst estimates of $1.01 million. MEI Pharma had a negative net margin of 1,443.85% and a negative return on equity of 88.85%. As a group, sell-side analysts predict that MEI Pharma Inc will post -0.53 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. boosted its position in MEI Pharma by 52.2% during the first quarter. Wasatch Advisors Inc. now owns 1,109,571 shares of the company’s stock worth $3,406,000 after acquiring an additional 380,531 shares during the last quarter. Macquarie Group Ltd. boosted its position in MEI Pharma by 55.8% during the fourth quarter. Macquarie Group Ltd. now owns 600,000 shares of the company’s stock worth $1,584,000 after acquiring an additional 215,000 shares during the last quarter. BlackRock Inc. boosted its position in MEI Pharma by 16.7% during the fourth quarter. BlackRock Inc. now owns 588,633 shares of the company’s stock worth $1,554,000 after acquiring an additional 84,321 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in MEI Pharma by 20.0% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 510,000 shares of the company’s stock worth $1,346,000 after acquiring an additional 85,000 shares during the last quarter. Finally, Bailard Inc. boosted its position in MEI Pharma by 32.0% during the first quarter. Bailard Inc. now owns 503,292 shares of the company’s stock worth $1,545,000 after acquiring an additional 122,000 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

MEI Pharma Company Profile (NASDAQ:MEIP)

MEI Pharma, Inc, a pharmaceutical company, focuses on the clinical development of novel therapies for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an oral available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.

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