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

MEI Pharma, Inc. (NASDAQ:MEIP) 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.

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:MEIP) 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

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.