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

MEI Pharma, Inc. (NASDAQ:MEIP) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 48,900 shares, a decrease of 23.0% from the November 15th total of 63,500 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 44,200 shares, the short-interest ratio is presently 1.1 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on MEI Pharma in a research note on Monday, December 9th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.00.

Hedge Funds Weigh In On MEI Pharma

A number of hedge funds have recently bought and sold shares of the company. Corsair Capital Management L.P. acquired a new position in shares of MEI Pharma during the 3rd quarter valued at $69,000. World Investment Advisors LLC bought a new position in shares of MEI Pharma in the third quarter valued at approximately $71,000. Finally, National Bank of Canada FI boosted its position in shares of MEI Pharma by 43.5% during the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 52.38% of the company’s stock.

MEI Pharma Stock Performance

Shares of NASDAQ MEIP remained flat at $2.70 during mid-day trading on Friday. The company had a trading volume of 14,107 shares, compared to its average volume of 48,373. The firm has a market capitalization of $17.98 million, a P/E ratio of -0.39 and a beta of 0.79. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $6.69. The firm’s fifty day simple moving average is $2.85 and its 200 day simple moving average is $2.97.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share for the quarter. On average, equities analysts anticipate that MEI Pharma will post -5.1 EPS for the current year.

About MEI Pharma

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.