MEI Pharma, Inc. (NASDAQ:MEIP) Sees Significant Decline in Short Interest

MEI Pharma, Inc. (NASDAQ:MEIP) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 2,600 shares, a decline of 25.7% from the March 15th total of 3,500 shares. Based on an average trading volume of 10,100 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of MEI Pharma in a research note on Wednesday. They set a “buy” rating on the stock.

MEI Pharma Stock Up 1.0 %

NASDAQ:MEIP traded up $0.02 on Friday, hitting $1.97. The stock had a trading volume of 4,080 shares, compared to its average volume of 45,370. The company has a market cap of $13.13 million, a PE ratio of -0.34 and a beta of 0.75. MEI Pharma has a 52 week low of $1.46 and a 52 week high of $4.10. The business’s fifty day moving average is $2.31 and its 200 day moving average is $2.61.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. Equities analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

Institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank bought a new stake in shares of MEI Pharma in the 4th quarter worth $62,000. World Investment Advisors LLC purchased a new position in MEI Pharma during the third quarter worth about $71,000. Northern Trust Corp grew its position in 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 purchasing an additional 12,561 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in MEI Pharma in the fourth quarter worth $26,000. Institutional investors own 52.38% of the company’s stock.

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.