MEI Pharma, Inc. (NASDAQ:MEIP) Short Interest Down 27.6% in February

MEI Pharma, Inc. (NASDAQ:MEIP) saw a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 4,200 shares, a drop of 27.6% from the January 31st total of 5,800 shares. Based on an average daily trading volume, of 20,500 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On MEI Pharma

Several large investors have recently bought and sold shares of MEIP. Toronto Dominion Bank acquired a new position in MEI Pharma during the 4th quarter valued at about $62,000. World Investment Advisors LLC acquired a new position in MEI Pharma during the 3rd quarter valued at about $71,000. Corsair Capital Management L.P. acquired a new position in MEI Pharma during the 3rd quarter valued at about $69,000. Northern Trust Corp increased its stake in MEI Pharma by 54.5% during the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after buying an additional 12,561 shares during the period. Finally, Virtu Financial LLC acquired a new position in MEI Pharma during the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 52.38% of the company’s stock.

MEI Pharma Price Performance

Shares of MEIP stock traded down $0.03 during trading hours on Tuesday, reaching $2.43. The stock had a trading volume of 12,974 shares, compared to its average volume of 10,204. MEI Pharma has a twelve month low of $2.30 and a twelve month high of $4.25. The firm has a 50-day simple moving average of $2.68 and a 200-day simple moving average of $2.81. The firm has a market capitalization of $16.19 million, a PE ratio of -0.42 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. On average, equities analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of MEI Pharma in a report on Thursday, February 27th. They issued a “buy” rating on the stock.

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.