MEI Pharma Receives Coverage from StockNews.com

On December 2, 2024, StockNews.com initiated coverage on MEI Pharma (NASDAQ:MEIP) by releasing a research note that recommends a buy rating for the stock.

Latest Stock Performance

As of Friday, MEIP shares opened slightly higher at $2.82. The company boasts a market capitalization of $18.78 million and has a price-to-earnings (P/E) ratio of -0.40 along with a beta of 0.83. Over the past year, MEI Pharma's stock has experienced a low of $2.61 and a high of $6.91. Currently, the 50-day moving average price stands at $2.87, while the 200-day moving average price is at $3.00.

Recent Earnings Announcement

MEI Pharma reported its quarterly earnings on November 12, where it posted an earnings per share (EPS) of ($1.20) for the quarter. Analysts predict that the company will achieve an average EPS of -5.1 for the current fiscal year.

Institutional Investors' Activity

There has been notable activity from institutional investors regarding MEI Pharma. For instance, during the second quarter, National Bank of Canada FI increased its stake in MEI Pharma by 43.5%, now holding 33,000 shares worth approximately $94,000 after acquiring an additional 10,000 shares. Moreover, during the third quarter, Corsair Capital Management L.P. entered a new position with an estimated value of around $69,000. Similarly, World Investment Advisors LLC acquired a new stake valued at roughly $71,000 during the same period. Overall, institutional ownership comprises about 52.38% of MEI Pharma's stock.

Overview of MEI Pharma

MEI Pharma, Inc. is a clinical-stage pharmaceutical company focused on developing and commercializing therapies aimed at treating cancer. Among its primary products is Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor intended for patients suffering from relapsed or refractory follicular lymphoma. Additionally, the company is developing Voruciclib, an oral cyclin-dependent kinase 9 inhibitor currently in Phase I trials for treating acute myeloid leukemia and B-cell malignancies.

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MEI, Pharma, Stock