MEI Pharma (NASDAQ:MEIP) Lowered to Sell Rating by Wall Street Zen

Key Points

• MEI Pharma's stock rating has been downgraded from a "hold" to a "sell" by analysts at Wall Street Zen, indicating a negative outlook for the company's shares.
• The company's current share price is $4.23, with a one-year trading range between $1.46 and $9.00, highlighting significant price volatility.
• Major hedge funds are actively adjusting their positions in MEI Pharma, with 52.38% of the stock owned by institutional investors, suggesting ongoing interest and investment in the company.

MEI Pharma (NASDAQ:MEIP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

MEI Pharma Trading Up 11.3%

Shares of NASDAQ MEIP traded up $0.32 on Friday, reaching $3.10. 3,196,220 shares of the company traded hands, compared to its average volume of 517,315. The company has a 50 day moving average of $4.57 and a 200 day moving average of $3.03. The stock has a market capitalization of $101.64 million, a PE ratio of -0.65 and a beta of 0.38. MEI Pharma has a fifty-two week low of $1.46 and a fifty-two week high of $9.00.

Institutional Investors Weigh In On MEI Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its position in MEI Pharma by 54.5% in the fourth 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 in the last quarter. Toronto Dominion Bank acquired a new position in shares of MEI Pharma during the fourth quarter valued at $62,000. Finally, Rangeley Capital LLC acquired a new position in shares of MEI Pharma during the second quarter valued at $25,000. Hedge funds and other institutional investors own 52.38% of the company's stock.

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.