Short Interest in MEI Pharma, Inc. (NASDAQ:MEIP) Expands By 38.1%

MEI Pharma, Inc. (NASDAQ:MEIP) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,800 shares, an increase of 38.1% from the February 13th total of 4,200 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 19,600 shares, the short-interest ratio is currently 0.3 days.

MEI Pharma Trading Up 0.4 %

Shares of MEIP traded up $0.01 during mid-day trading on Monday, hitting $2.32. The company’s stock had a trading volume of 10,167 shares, compared to its average volume of 46,007. The company’s 50-day moving average is $2.67 and its 200-day moving average is $2.77. MEI Pharma has a 52-week low of $2.29 and a 52-week high of $4.15. The firm has a market capitalization of $15.46 million, a price-to-earnings ratio of -0.40 and a beta of 0.76.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. As a group, sell-side analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

Several hedge funds have recently modified their holdings of MEIP. Toronto Dominion Bank purchased a new stake in shares of MEI Pharma in the 4th quarter worth approximately $62,000. World Investment Advisors LLC bought a new position in shares of MEI Pharma during the 3rd quarter worth approximately $71,000. Corsair Capital Management L.P. bought a new position in shares of MEI Pharma during the 3rd quarter worth approximately $69,000. Northern Trust Corp raised its stake in shares of MEI Pharma by 54.5% during the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after acquiring an additional 12,561 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of MEI Pharma during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 52.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of MEI Pharma in a research report on Saturday. They issued a “buy” rating for the company.

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.