Short Interest in MEI Pharma, Inc. (NASDAQ:MEIP) Decreases By 38.9%

Posted by Don Miller on Feb 13th, 2025

MEI Pharma, Inc. (NASDAQ:MEIP – Get Free Report) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 5,800 shares, a decrease of 38.9% from the January 15th total of 9,500 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 23,200 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of MEI Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of MEI Pharma during the 4th quarter worth about $26,000. Corsair Capital Management L.P. acquired a new stake in MEI Pharma in the 3rd quarter valued at about $69,000. Finally, World Investment Advisors LLC bought a new position in MEI Pharma during the third quarter worth about $71,000. 52.38% of the stock is owned by institutional investors.

MEI Pharma Trading Down 1.5 %

MEIP opened at $2.66 on Thursday. The business’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $2.90. MEI Pharma has a 52-week low of $2.30 and a 52-week high of $4.90.

MEI Pharma (NASDAQ:MEIP – Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. As a group, research analysts predict that MEI Pharma will post -5.1 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of MEI Pharma in a research report on Tuesday. They issued a “buy” rating for the company.

Read Our Latest Report on MEI Pharma

About MEI Pharma

(Get Free Report)

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.