Short Interest in MEI Pharma, Inc. (NASDAQ:MEIP) Decreases By 39.7%

MEI Pharma, Inc. (NASDAQ:MEIP) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 3,500 shares, a drop of 39.7% from the February 28th total of 5,800 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 17,100 shares, the short-interest ratio is presently 0.2 days.

MEI Pharma Trading Up 0.4 %

Shares of NASDAQ MEIP traded up $0.01 during midday trading on Friday, hitting $2.35. The company’s stock had a trading volume of 12,514 shares, compared to its average volume of 45,655. The firm has a market capitalization of $15.66 million, a price-to-earnings ratio of -0.41 and a beta of 0.76. The stock has a fifty day moving average price of $2.59 and a 200 day moving average price of $2.72. MEI Pharma has a one year low of $2.26 and a one year high of $4.11.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. On average, equities research analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on MEI Pharma in a report on Sunday, March 23rd. They set a “buy” rating for the company.

Institutional Investors Weigh In On MEI Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in MEI Pharma during the 4th quarter worth approximately $26,000. Toronto Dominion Bank bought a new position in MEI Pharma in the 4th quarter valued at $62,000. World Investment Advisors LLC purchased a new position in shares of MEI Pharma during the 3rd quarter valued at $71,000. Finally, Northern Trust Corp increased its holdings in shares of MEI Pharma by 54.5% in the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after purchasing an additional 12,561 shares during the period. 52.38% of the stock is currently owned by institutional investors.

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.