MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Sunday. The brokerage issued a buy rating on the stock.

MEI Pharma Trading Up 1.2%

Shares of NASDAQ MEIP opened at $2.11 on Friday. The company has a fifty day moving average price of $2.09 and a 200 day moving average price of $2.49. MEI Pharma has a 1-year low of $1.46 and a 1-year high of $4.10. The firm has a market cap of $14.02 million, a PE ratio of -0.37 and a beta of 0.21.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.39) earnings per share (EPS) for the quarter. Equities research analysts forecast that MEI Pharma will post -5.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of MEI Pharma in the 4th quarter worth about $26,000. Northern Trust Corp raised its stake in MEI Pharma by 54.5% in 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 in the last quarter. Finally, Toronto Dominion Bank purchased a new stake in MEI Pharma in the fourth quarter valued at approximately $62,000. 52.38% of the stock is owned by institutional investors.

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.