Sio Capital Management LLC lowered its position in shares of MEI Pharma Inc (NASDAQ:MEIP) by 35.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,510,086 shares of the company’s stock after selling 846,547 shares during the quarter. Sio Capital Management LLC owned approximately 2.12% of MEI Pharma worth $3,775,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. A.R.T. Advisors LLC boosted its holdings in shares of MEI Pharma by 55.6% in the 2nd quarter. A.R.T. Advisors LLC now owns 22,117 shares of the company’s stock valued at $55,000 after purchasing an additional 7,900 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of MEI Pharma in the 2nd quarter valued at about $56,000. Algert Global LLC boosted its stake in MEI Pharma by 105.4% during the 2nd quarter. Algert Global LLC now owns 38,797 shares of the company’s stock valued at $97,000 after purchasing an additional 19,907 shares during the period. Tower Research Capital LLC TRC boosted its stake in MEI Pharma by 1,795.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 107,163 shares of the company’s stock valued at $268,000 after purchasing an additional 101,510 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of MEI Pharma by 92.6% in the 2nd quarter. Northern Trust Corp now owns 119,007 shares of the company’s stock worth $298,000 after acquiring an additional 57,211 shares during the period. Hedge funds and other institutional investors own 64.47% of the company’s stock.
A number of brokerages recently commented on MEIP. Zacks Investment Research raised shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a research report on Tuesday, September 3rd. ValuEngine cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of MEI Pharma in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. MEI Pharma has an average rating of “Buy” and a consensus target price of $6.50.
Shares of NASDAQ:MEIP remained flat at $$1.99 during mid-day trading on Wednesday. 8,434 shares of the company were exchanged, compared to its average volume of 212,260. The company has a market cap of $142.58 million, a price-to-earnings ratio of -3.20 and a beta of 1.67. The stock has a fifty day moving average of $1.70 and a 200 day moving average of $2.52. MEI Pharma Inc has a 1-year low of $1.44 and a 1-year high of $4.67.
MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Wednesday, August 28th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.18. MEI Pharma had a negative net margin of 819.04% and a negative return on equity of 76.61%. The firm had revenue of $1.13 million for the quarter, compared to the consensus estimate of $1.05 million. On average, research analysts expect that MEI Pharma Inc will post -0.79 earnings per share for the current fiscal year.
MEI Pharma Company Profile
MEI Pharma, Inc, a pharmaceutical company, focuses on the clinical development of novel therapies for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an oral available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.
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