VY Capital Management Co. Ltd. Buys Shares of 6,125,821 Lite Strategy, Inc. $LITS

VY Capital Management Co. Ltd. acquired a new position in Lite Strategy, Inc. (NASDAQ:LITS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,125,821 shares of the company’s stock, valued at approximately $15,620,844,000. Lite Strategy makes up 0.0% of VY Capital Management Co. Ltd.’s portfolio, making the stock its 3rd largest position. VY Capital Management Co. Ltd. owned about 18.00% of Lite Strategy at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Long Corridor Asset Management Ltd acquired a new position in Lite Strategy in the 2nd quarter valued at about $2,619,000. Alpine Global Management LLC acquired a new position in shares of Lite Strategy in the 4th quarter valued at $66,000. Virtu Financial LLC acquired a new position in Lite Strategy in the fourth quarter valued at $35,000. XTX Topco Ltd purchased a new stake in shares of Lite Strategy during the 4th quarter worth about $147,000. Finally, Quadrature Capital Ltd purchased a new stake in Lite Strategy during the fourth quarter worth approximately $112,000. 52.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LITS has been the subject of a number of recent research reports. Wall Street Zen upgraded Lite Strategy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Lite Strategy currently has an average rating of “Sell”.

Lite Strategy Price Performance

Shares of NASDAQ LITS opened at $0.98 on Friday. Lite Strategy, Inc. has a 1-year low of $0.69 and a 1-year high of $5.27. The business’s fifty day moving average price is $0.95 and its two-hundred day moving average price is $1.04. The firm has a market capitalization of $33.36 million, a PE ratio of -0.61 and a beta of 0.21.

Lite Strategy Profile

MEI Pharma, Inc, a late-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 that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.