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

Key Points

• MEI Pharma, Inc. experienced a dramatic **12,046.9% increase** in short interest in July, climbing to **2,150,000 shares** from just 17,700 shares mid-month.
• The company's stock is currently **52.38% owned** by institutional investors, with **Toronto Dominion Bank** recently acquiring 25,000 shares valued at approximately **$62,000**.
• MEI Pharma's shares are trading down **3.7%**, with a current price of **$4.95**, and have a **market capitalization** of **$160.23 million**.

MEI Pharma, Inc. (NASDAQ:MEIP - Get Free Report) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 2,150,000 shares, anincreaseof12,046.9% from the July 15th total of 17,700 shares. Based on an average trading volume of 992,300 shares, the short-interest ratio is presently 2.2 days. Approximately34.2% of the shares of the stock are short sold. Approximately34.2% of the shares of the stock are short sold. Based on an average trading volume of 992,300 shares, the short-interest ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on shares of MEI Pharma in a research note on Sunday, May 18th. They set a "buy" rating for the company.

Institutional Investors Weigh In On MEI Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp raised its stake in shares of MEI Pharma by 54.5% in the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company's stock valued at $88,000 after acquiring an additional 12,561 shares during the period. Toronto Dominion Bank purchased a new position in shares of MEI Pharma in the fourth quarter valued at approximately $62,000. Finally, Rangeley Capital LLC purchased a new stake in MEI Pharma during the 2nd quarter worth approximately $25,000. 52.38% of the stock is owned by hedge funds and other institutional investors.

MEI Pharma Stock Performance

Shares of MEI Pharma stock traded down $0.1850 on Tuesday, reaching $4.6950. The company had a trading volume of 365,272 shares, compared to its average volume of 437,849. The firm's 50 day moving average price is $3.87 and its two-hundred day moving average price is $2.82. The firm has a market cap of $151.98 million, a PE ratio of -0.99 and a beta of 0.37. MEI Pharma has a 52-week low of $1.46 and a 52-week high of $9.00.

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.