Short Interest in MEI Pharma, Inc. (NASDAQ:MEIP) Increases By 167.9%

MEI Pharma, Inc. (NASDAQ:MEIP) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 20,900 shares, a growth of 167.9% from the March 31st total of 7,800 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 21,200 shares, the short-interest ratio is presently 1.0 days.

Analyst Upgrades and Downgrades

MEIP has been the subject of several research reports. StockNews.com assumed coverage on shares of MEI Pharma in a report on Sunday, April 21st. They set a “buy” rating for the company. Stifel Nicolaus restated a “hold” rating and set a $7.00 price target on shares of MEI Pharma in a research note on Friday, April 12th. Finally, TheStreet cut shares of MEI Pharma from a “c-” rating to a “d+” rating in a report on Thursday, February 1st.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC bought a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up about 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest holding. Cable Car Capital LLC owned about 9.18% of MEI Pharma at the end of the most recent reporting period. Institutional investors and hedge funds own 52.38% of the company’s stock.

MEI Pharma Trading Down 1.6 %

Shares of MEIP stock traded down $0.05 on Friday, hitting $3.05. 8,066 shares of the stock were exchanged, compared to its average volume of 17,524. The firm’s 50 day moving average is $3.81 and its two-hundred day moving average is $5.23. MEI Pharma has a one year low of $3.03 and a one year high of $7.97. The firm has a market capitalization of $20.31 million, a PE ratio of 1.03 and a beta of 0.77.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Tuesday, February 13th. The company reported ($1.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.20). MEI Pharma had a return on equity of 39.72% and a net margin of 39.06%. On average, sell-side analysts expect that MEI Pharma will post 3.24 earnings per share for the current 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.