StockNews.com Initiates Coverage on MEI Pharma (NASDAQ:MEIP)

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued on Tuesday. The firm set a “buy” rating on the stock.

MEI Pharma Stock Down 0.4 %

Shares of NASDAQ MEIP opened at $2.77 on Tuesday. The stock’s 50-day simple moving average is $2.68 and its two-hundred day simple moving average is $2.91. MEI Pharma has a twelve month low of $2.30 and a twelve month high of $4.97. The firm has a market capitalization of $18.45 million, a P/E ratio of -0.40 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. As a group, research analysts anticipate that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Trading of MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. World Investment Advisors LLC bought a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,000 shares of the company’s stock, valued at approximately $71,000. World Investment Advisors LLC owned approximately 0.38% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission (SEC). 52.38% of the stock is currently 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.