Lite Strategy (NASDAQ:LITS) Director James Flynn Acquires 25,000 Shares of Stock

Lite Strategy, Inc. (NASDAQ:LITS) Director James Flynn bought 25,000 shares of Lite Strategy stock in a transaction on Wednesday, June 24th. The stock was purchased at an average price of $0.86 per share, with a total value of $21,500.00. Following the completion of the acquisition, the director directly owned 125,000 shares of the company’s stock, valued at $107,500. This represents a 25.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Lite Strategy Trading Down 6.4%

Shares of LITS stock opened at $0.82 on Friday. The business’s fifty day simple moving average is $1.02 and its 200-day simple moving average is $1.18. The company has a market cap of $27.81 million, a PE ratio of -0.51 and a beta of 0.21. Lite Strategy, Inc. has a 12-month low of $0.69 and a 12-month high of $9.00.

Lite Strategy (NASDAQ:LITS) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.66) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Lite Strategy

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in Lite Strategy during the 4th quarter worth $2,035,000. Marshall Wace LLP purchased a new position in shares of Lite Strategy in the fourth quarter worth about $1,002,000. Mozayyx Management LLC purchased a new position in shares of Lite Strategy in the fourth quarter worth about $739,000. Geode Capital Management LLC acquired a new position in Lite Strategy during the fourth quarter worth about $437,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in Lite Strategy during the 4th quarter valued at about $365,000. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LITS has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Lite Strategy in a report on Monday, June 1st. Wall Street Zen raised Lite Strategy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

About Lite Strategy

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.