Acadian Asset Management LLC Sells 61,583 Shares of MEI Pharma, Inc. (NASDAQ:MEIP)

Acadian Asset Management LLC decreased its stake in MEI Pharma, Inc. (NASDAQ:MEIP) by 29.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,150 shares of the company’s stock after selling 61,583 shares during the period. Acadian Asset Management LLC owned 2.25% of MEI Pharma worth $435,000 at the end of the most recent quarter.

Separately, National Bank of Canada FI grew its stake in MEI Pharma by 43.5% in the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after purchasing an additional 10,000 shares in the last quarter. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

MEI Pharma Stock Up 1.3 %

Shares of MEI Pharma stock opened at $3.04 on Thursday. The stock has a market capitalization of $20.26 million, a price-to-earnings ratio of 0.78 and a beta of 0.86. MEI Pharma, Inc. has a twelve month low of $2.73 and a twelve month high of $7.87. The company has a 50-day simple moving average of $3.20 and a two-hundred day simple moving average of $3.25.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MEIP. StockNews.com began coverage on MEI Pharma in a research note on Thursday, September 12th. They set a “buy” rating on the stock. Brookline Capital Management lowered shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Laidlaw lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, MEI Pharma has an average rating of “Hold” and an average target price of $7.00.

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.