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

MEI Pharma, Inc. (NASDAQ:MEIP) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 63,500 shares, a decline of 21.6% from the October 31st total of 81,000 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 43,100 shares, the days-to-cover ratio is presently 1.5 days.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of MEI Pharma in a research report on Sunday. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

Institutional Investors Weigh In On MEI Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in MEIP. Corsair Capital Management L.P. acquired a new position in MEI Pharma during the third quarter worth $69,000. World Investment Advisors LLC acquired a new position in shares of MEI Pharma during the 3rd quarter valued at about $71,000. Finally, National Bank of Canada FI grew its holdings in shares of MEI Pharma by 43.5% in the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 52.38% of the company’s stock.

MEI Pharma Stock Up 0.7 %

NASDAQ MEIP traded up $0.02 during mid-day trading on Friday, hitting $2.82. The stock had a trading volume of 3,058 shares, compared to its average volume of 19,765. The firm’s 50 day moving average is $2.87 and its 200 day moving average is $3.00. MEI Pharma has a twelve month low of $2.61 and a twelve month high of $6.91.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. Research analysts anticipate that MEI Pharma will post -5.1 EPS for the current fiscal year.

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.