Short Interest in MEI Pharma, Inc. (NASDAQ:MEIP) Expands By 38.1%

MEI Pharma, Inc. (NASDAQ:MEIPGet Free Report) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 5,800 shares, a growth of 38.1% from the February 13th total of 4,200 shares. Based on an average daily trading volume, of 19,600 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of MEI Pharma in a report on Saturday. They set a “buy” rating on the stock.

Check Out Our Latest Research Report on MEIP

Hedge Funds Weigh In On MEI Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank purchased a new position in shares of MEI Pharma in the fourth quarter worth about $62,000. Northern Trust Corp increased 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 purchasing an additional 12,561 shares during the last quarter. Virtu Financial LLC acquired a new stake in MEI Pharma during the fourth quarter worth about $26,000. World Investment Advisors LLC acquired a new stake in MEI Pharma during the third quarter worth about $71,000. Finally, Corsair Capital Management L.P. acquired a new stake in MEI Pharma during the third quarter worth about $69,000. 52.38% of the stock is owned by hedge funds and other institutional investors.

MEI Pharma Stock Performance

Shares of NASDAQ:MEIP traded up $0.01 during midday trading on Monday, hitting $2.32. The company’s stock had a trading volume of 10,167 shares, compared to its average volume of 46,007. The business’s 50 day simple moving average is $2.67 and its 200 day simple moving average is $2.77. The company has a market cap of $15.46 million, a P/E ratio of -0.40 and a beta of 0.76. MEI Pharma has a 12-month low of $2.29 and a 12-month high of $4.15.

MEI Pharma (NASDAQ:MEIPGet Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. On average, sell-side analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

About MEI Pharma

(Get Free Report)

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.

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