MEI Pharma (NASDAQ:MEIP) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

MEI Pharma, Inc. (NASDAQ:MEIP) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.07 and traded as low as $2.85. MEI Pharma shares last traded at $3.19, with a volume of 3,979,920 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of MEI Pharma from a “hold” rating to a “sell” rating in a report on Saturday, September 6th.

MEI Pharma Stock Performance

The firm has a market capitalization of $104.72 million, a PE ratio of -0.67 and a beta of 0.38. The company’s fifty day moving average price is $4.66 and its two-hundred day moving average price is $3.07.

Institutional Trading of MEI Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of MEIP. Northern Trust Corp increased its position in MEI Pharma by 54.5% during 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. Toronto Dominion Bank acquired a new stake in MEI Pharma during the 4th quarter worth approximately $62,000. Finally, Rangeley Capital LLC acquired a new stake in MEI Pharma during the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds 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.