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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Monday morning. The firm issued a buy rating on the stock.

MEI Pharma Stock Performance

Shares of MEIP opened at $2.76 on Monday. MEI Pharma has a fifty-two week low of $2.30 and a fifty-two week high of $4.97. The business has a 50-day moving average of $2.68 and a 200 day moving average of $2.93. The firm has a market cap of $18.38 million, a P/E ratio of -0.39 and a beta of 0.79.

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

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. World Investment Advisors LLC acquired a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,000 shares of the company’s stock, valued at approximately $71,000. World Investment Advisors LLC owned approximately 0.38% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.