MEI Pharma (NASDAQ:MEIP) Now Covered by StockNews.com

Analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Monday. The firm set a “buy” rating on the stock.

Other research analysts have also issued research reports about the stock. Laidlaw lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Brookline Capital Management lowered shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a report 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.00.

MEI Pharma Trading Up 0.3 %

Shares of NASDAQ MEIP opened at $3.11 on Monday. MEI Pharma has a 1-year low of $2.73 and a 1-year high of $7.87. The company has a 50-day moving average of $3.09 and a two-hundred day moving average of $3.44. The company has a market cap of $20.72 million, a PE ratio of 0.79 and a beta of 0.86.

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC acquired a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma accounts for about 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th largest holding. Cable Car Capital LLC owned about 9.18% of MEI Pharma at the end of the most recent quarter. 52.38% of the stock is owned by institutional investors and hedge funds.

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.