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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note released on Friday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Stock Performance

Shares of NASDAQ:MEIP opened at $2.04 on Friday. MEI Pharma has a 1-year low of $1.46 and a 1-year high of $4.10. The company’s fifty day moving average is $2.18 and its two-hundred day moving average is $2.56. The stock has a market capitalization of $13.59 million, a price-to-earnings ratio of -0.36 and a beta of 0.75.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Wednesday, February 12th. The company reported ($0.48) EPS for the quarter. Sell-side analysts expect that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MEIP. Toronto Dominion Bank acquired a new stake in MEI Pharma in the 4th quarter valued at approximately $62,000. Northern Trust Corp increased its holdings in shares of MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after purchasing an additional 12,561 shares during the period. Virtu Financial LLC bought a new stake in shares of MEI Pharma during the fourth quarter valued at about $26,000. Finally, World Investment Advisors LLC acquired a new stake in MEI Pharma in the third quarter worth about $71,000. Institutional investors own 52.38% of the company’s stock.

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.