MEI Pharma, Inc. (NASDAQ:MEIP) Sees Large Increase in Short Interest

MEI Pharma, Inc. (NASDAQ:MEIP) saw a large increase in short interest during 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 daily trading volume, of 19,600 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Investors Weigh In On MEI Pharma

Several institutional investors and hedge funds have recently bought and sold shares of MEIP. Toronto Dominion Bank acquired a new stake in MEI Pharma during the fourth quarter worth about $62,000. World Investment Advisors LLC acquired a new stake in MEI Pharma during the third quarter worth about $71,000. Corsair Capital Management L.P. acquired a new stake in MEI Pharma during the third quarter worth about $69,000. Northern Trust Corp raised its stake in 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 acquiring an additional 12,561 shares during the period. Finally, Virtu Financial LLC acquired a new stake in MEI Pharma during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 52.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of MEI Pharma in a research report on Saturday. They issued a “buy” rating for the company.

MEI Pharma Stock Performance

Shares of MEI Pharma stock traded up $0.03 during trading on Friday, reaching $2.33. The company had a trading volume of 1,639 shares, compared to its average volume of 46,151. The company has a market cap of $15.53 million, a price-to-earnings ratio of -0.41 and a beta of 0.76. The firm’s fifty day moving average is $2.67 and its 200-day moving average is $2.78. MEI Pharma has a fifty-two week low of $2.30 and a fifty-two week high of $4.15.

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