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

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on MEI Pharma in a research report on Wednesday. They issued a “buy” rating on the stock.

MEI Pharma Stock Performance

NASDAQ MEIP opened at $1.97 on Friday. The company has a market capitalization of $13.13 million, a P/E 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 company has a fifty day moving average of $2.31 and a 200-day moving average of $2.61.

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

Institutional Investors Weigh In On MEI Pharma

Several institutional investors and hedge funds have recently bought and sold shares of MEIP. Virtu Financial LLC purchased a new stake in shares of MEI Pharma in the 4th quarter worth about $26,000. Toronto Dominion Bank bought a new stake in shares of MEI Pharma during the fourth quarter valued at approximately $62,000. World Investment Advisors LLC purchased a new stake in MEI Pharma during the 3rd quarter valued at $71,000. Finally, Northern Trust Corp raised its stake in shares of MEI Pharma by 54.5% in 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. Hedge funds and other institutional investors own 52.38% of the company’s stock.

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.