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

MEI Pharma, Inc. (NASDAQ:MEIP) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 81,000 shares, a growth of 504.5% from the October 15th total of 13,400 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 42,500 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Ratings Changes

MEIP has been the topic of a number of analyst reports. StockNews.com started coverage on MEI Pharma in a research note on Thursday, November 7th. They set a “buy” rating on the stock. Laidlaw lowered MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Brookline Capital Management downgraded shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Price Performance

MEIP stock traded up $0.01 during mid-day trading on Tuesday, hitting $3.14. 12,047 shares of the stock were exchanged, compared to its average volume of 51,354. The stock has a market capitalization of $20.91 million, a price-to-earnings ratio of 1.17 and a beta of 0.83. The business has a fifty day moving average price of $2.92 and a 200 day moving average price of $3.02. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $7.87.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Thursday, September 19th. The company reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.48) by $0.35. As a group, equities analysts forecast that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI lifted its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. National Bank of Canada FI owned approximately 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the Securities & Exchange Commission. 52.38% of the stock is currently owned by institutional investors.

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.