Lite Strategy (NASDAQ:LITS) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen has downgraded MEI Pharma (NASDAQ:LITS) from a "hold" rating to a "sell" rating.
• The stock price for MEI Pharma opened at $2.80 on Friday, indicating a slight increase of 3.3% from previous trading sessions.
• MEI Pharma is focused on developing pharmaceutical therapies for cancer, including therapies like Zandelisib and Voruciclib, which are currently in clinical trials.

Lite Strategy (NASDAQ:LITS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday.

Lite Strategy Trading Up 2.3%

Shares of Lite Strategy stock traded up $0.06 on Friday, reaching $2.64. The company's stock had a trading volume of 465,329 shares, compared to its average volume of 559,173. The firm has a market cap of $86.70 million, a price-to-earnings ratio of -0.56 and a beta of 0.38. Lite Strategy has a 52 week low of $1.46 and a 52 week high of $9.00.

About Lite Strategy

MEI Pharma, Inc, a late-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 that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.