MEI Pharma, Inc. (NASDAQ:MEIP) Short Interest Update

MEI Pharma, Inc. (NASDAQ:MEIP) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,800 shares, an increase of 38.1% from the February 13th total of 4,200 shares. Based on an average trading volume of 19,600 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

MEI Pharma Price Performance

NASDAQ MEIP traded up $0.01 during trading hours on Tuesday, hitting $2.33. The company had a trading volume of 476 shares, compared to its average volume of 45,825. MEI Pharma has a fifty-two week low of $2.28 and a fifty-two week high of $4.15. The firm’s 50 day moving average is $2.66 and its 200 day moving average is $2.77. The company has a market capitalization of $15.49 million, a price-to-earnings ratio of -0.41 and a beta of 0.76.

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on MEI Pharma in a research note on Saturday. They set a “buy” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MEIP. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma in the 3rd quarter worth about $69,000. World Investment Advisors LLC acquired a new stake in shares of MEI Pharma in the 3rd quarter worth about $71,000. Northern Trust Corp increased its holdings in shares of MEI Pharma by 54.5% in the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after acquiring an additional 12,561 shares during the period. Toronto Dominion Bank acquired a new stake in shares of MEI Pharma in the 4th quarter worth about $62,000. Finally, Virtu Financial LLC acquired a new stake in shares of MEI Pharma in the 4th quarter worth about $26,000. 52.38% of the stock is owned by institutional investors and hedge funds.

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.