MEI Pharma, Inc. (NASDAQ:MEIP) Sees Large Increase in Short Interest

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

MEI Pharma Trading Down 1.6 %

NASDAQ MEIP traded down $0.05 on Friday, hitting $3.05. 8,066 shares of the company were exchanged, compared to its average volume of 22,432. MEI Pharma has a 1-year low of $3.03 and a 1-year high of $7.97. The firm has a 50 day moving average of $3.84 and a two-hundred day moving average of $5.28. The company has a market cap of $20.31 million, a P/E ratio of 1.04 and a beta of 0.77.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Tuesday, February 13th. The company reported ($1.66) earnings per share (EPS) 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%. Research analysts anticipate that MEI Pharma will post 3.24 EPS for the current fiscal year.

Institutional Trading of MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. National Bank of Canada FI bought a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned about 0.09% of MEI Pharma as of its most recent filing with the SEC. 52.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MEIP has been the topic of several research reports. 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. StockNews.com started coverage on shares of MEI Pharma in a research note on Sunday, April 21st. They set a “buy” rating on the stock. Finally, TheStreet cut shares of MEI Pharma from a “c-” rating to a “d+” rating in a research note on Thursday, February 1st.

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.