MEI Pharma, Inc. (NASDAQ:MEIP) Sees Significant Growth in Short Interest

MEI Pharma, Inc. (NASDAQ:MEIP) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 20,900 shares, an increase of 167.9% from the March 31st total of 7,800 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 21,200 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Ratings Changes

MEIP has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of MEI Pharma in a research report on Sunday, April 21st. They set a “buy” rating for the company. TheStreet downgraded MEI Pharma from a “c-” rating to a “d+” rating in a research report on Thursday, February 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective on shares of MEI Pharma in a research note on Friday, April 12th.

MEI Pharma Trading Down 1.6 %

NASDAQ:MEIP traded down $0.05 on Friday, hitting $3.05. The company had a trading volume of 8,066 shares, compared to its average volume of 22,432. The firm has a 50 day moving average of $3.84 and a two-hundred day moving average of $5.28. The stock has a market capitalization of $20.31 million, a price-to-earnings ratio of 1.04 and a beta of 0.77. MEI Pharma has a 52 week low of $3.03 and a 52 week high of $7.97.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($1.66) EPS for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.20). MEI Pharma had a net margin of 39.06% and a return on equity of 39.72%. As a group, equities analysts forecast that MEI Pharma will post 3.24 EPS for the current year.

Institutional Trading of MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI bought a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned about 0.09% of MEI Pharma at the end of the most recent reporting period. Institutional investors and hedge funds own 52.38% of the company’s stock.

MEI Pharma Company Profile

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.