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

MEI Pharma, Inc. (NASDAQ:MEIP) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 11,200 shares, a drop of 30.4% from the August 15th total of 16,100 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 97,400 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com began coverage on MEI Pharma in a research note on Thursday. They issued a “buy” rating on the stock. Brookline Capital Management downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MEI Pharma currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC acquired a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma accounts for approximately 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th largest holding. Cable Car Capital LLC owned 9.18% of MEI Pharma as of its most recent SEC filing. Hedge funds and other institutional investors own 52.38% of the company’s stock.

MEI Pharma Stock Performance

NASDAQ MEIP traded down $0.03 during trading hours on Friday, hitting $3.03. 13,467 shares of the company’s stock were exchanged, compared to its average volume of 49,647. The business’s 50 day moving average is $3.18 and its 200-day moving average is $3.27. MEI Pharma has a 12-month low of $2.73 and a 12-month high of $7.87. The firm has a market capitalization of $20.18 million, a P/E ratio of 0.77 and a beta of 0.86.

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.