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

MEI Pharma, Inc. (NASDAQ:MEIP) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,500 shares, a decrease of 39.7% from the February 28th total of 5,800 shares. Based on an average trading volume of 17,100 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Trading of MEI Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after purchasing an additional 12,561 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of MEI Pharma in the third quarter valued at about $71,000. Toronto Dominion Bank purchased a new stake in MEI Pharma during the 4th quarter worth approximately $62,000. Finally, Virtu Financial LLC purchased a new position in MEI Pharma in the 4th quarter valued at $26,000. Institutional investors and hedge funds own 52.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of MEI Pharma in a research report on Monday. They set a “buy” rating on the stock.

MEI Pharma Trading Down 1.5 %

Shares of MEIP traded down $0.04 during trading hours on Monday, hitting $2.32. The company had a trading volume of 10,071 shares, compared to its average volume of 45,514. The company has a market capitalization of $15.42 million, a PE ratio of -0.40 and a beta of 0.76. The company’s fifty day moving average price is $2.59 and its two-hundred day moving average price is $2.72. MEI Pharma has a one year low of $2.26 and a one year high of $4.11.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) EPS for the quarter. Analysts forecast that MEI Pharma will post -5.1 earnings per share for the current year.

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.