MEI Pharma, Inc. (NASDAQ:MEIP) Short Interest Down 23.0% in November

MEI Pharma, Inc. (NASDAQ:MEIP) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 48,900 shares, a decrease of 23.0% from the November 15th total of 63,500 shares. Based on an average daily trading volume, of 44,200 shares, the short-interest ratio is presently 1.1 days. Approximately 0.7% of the company’s stock are short sold.

Hedge Funds Weigh In On MEI Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MEIP. Corsair Capital Management L.P. acquired a new position in MEI Pharma in the third quarter valued at approximately $69,000. World Investment Advisors LLC acquired a new stake in shares of MEI Pharma in the third quarter valued at approximately $71,000. Finally, National Bank of Canada FI boosted its holdings in shares of MEI Pharma by 43.5% in the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after acquiring an additional 10,000 shares during the period. 52.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of MEI Pharma in a research note on Monday, December 9th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.00.

MEI Pharma Stock Down 4.4 %

MEIP traded down $0.12 on Monday, reaching $2.58. The company’s stock had a trading volume of 57,568 shares, compared to its average volume of 48,411. The stock has a 50 day moving average of $2.85 and a two-hundred day moving average of $2.97. The company has a market capitalization of $17.19 million, a price-to-earnings ratio of -0.39 and a beta of 0.79. MEI Pharma has a fifty-two week low of $2.54 and a fifty-two week high of $6.52.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. As a group, analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

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.