MEI Pharma, Inc. (NASDAQ:MEIP) Short Interest Update

by · The Markets Daily

MEI Pharma, Inc. (NASDAQ:MEIP – Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 2,600 shares, a decline of 25.7% from the March 15th total of 3,500 shares. Based on an average daily volume of 10,100 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the company’s shares are sold short.

Institutional Trading of MEI Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in MEI Pharma in the fourth quarter worth about $26,000. Toronto Dominion Bank purchased a new position in shares of MEI Pharma during the 4th quarter worth approximately $62,000. World Investment Advisors LLC bought a new position in shares of MEI Pharma in the 3rd quarter worth approximately $71,000. Finally, Northern Trust Corp raised its position in shares of MEI Pharma by 54.5% in the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after acquiring an additional 12,561 shares in the last quarter. Hedge funds and other institutional investors own 52.38% of the company’s stock.

MEI Pharma Stock Performance

Shares of NASDAQ MEIP traded up $0.02 during mid-day trading on Friday, hitting $1.97. The stock had a trading volume of 4,080 shares, compared to its average volume of 45,370. The firm has a market cap of $13.13 million, a P/E ratio of -0.34 and a beta of 0.75. The business has a 50 day moving average price of $2.31 and a two-hundred day moving average price of $2.61. MEI Pharma has a 1 year low of $1.46 and a 1 year high of $4.10.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on MEI Pharma in a research note on Wednesday. They set a “buy” rating on the stock.

Get Our Latest Stock Analysis on MEIP

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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