MEI Pharma Now Covered by Analysts at StockNews.com

Analysts at StockNews.com have recently begun coverage of MEI Pharma (NASDAQ:MEIP), providing an update on the stock in a research note released on a Sunday. The analysts have given the stock a buy rating, indicating a positive outlook for potential investors.

Current Stock Performance of MEI Pharma

On the previous Friday, MEI Pharma's share price opened at $2.82. The company currently has a market capitalization of $18.78 million. Additionally, MEIP has a P/E ratio of -0.40 and a beta value of 0.83, reflecting its volatility compared to the market. The stock has experienced a 52-week low of $2.61 and a high of $6.91, showcasing the stock's fluctuations over the past year. The 50-day moving average price stands at $2.87, while the 200-day moving average price is $3.00.

Most recently, MEI Pharma reported its quarterly earnings on November 12th, where it disclosed an earnings per share (EPS) of ($1.20) for that quarter. Market analysts forecast that MEI Pharma will have an EPS of -5.1 for the current year, which gives investors insight into the company's expected financial performance.

Institutional Investment Trends

In recent months, there have been noteworthy changes in the institutional ownership of MEI Pharma. Notably, the National Bank of Canada FI increased its investment in MEI Pharma by 43.5% during the second quarter, now owning 33,000 shares valued at approximately $94,000 after buying an additional 10,000 shares. Corsair Capital Management L.P. also established a new position in MEI Pharma valued around $69,000 in the third quarter. Another institutional investor, World Investment Advisors LLC, made a new investment of about $71,000 during the same period. Currently, institutional investors hold approximately 52.38% of MEI Pharma's shares.

Company Overview

MEI Pharma, Inc. is a clinical-stage pharmaceutical firm dedicated to the development and commercialization of innovative cancer treatments. The company is notably advancing Zandelisib, an oral inhibitor that targets phosphatidylinositol 3-kinase delta, intended for patients suffering from relapsed/refractory follicular lymphoma. Additionally, MEI Pharma is developing Voruciclib, an oral cyclin-dependent kinase 9 inhibitor that is currently undergoing Phase I clinical trials for acute myeloid leukemia and various B-cell malignancies.

MEI, Pharma, Stock