Wall Street Zen Upgrades MEI Pharma (NASDAQ:MEIP) to Hold

Key Points

• Wall Street Zen has upgraded MEI Pharma (NASDAQ: MEIP) to a "hold" rating, reflecting a change in analysts' perspectives on the stock.
• MEI Pharma's stock price has increased by 7.6%, opening at $4.97, with a 12-month trading range of $1.46 to $9.00.
• Institutional investors own 52.38% of the company's stock, with recent activity including Northern Trust Corp increasing its stake by 54.5%.

MEI Pharma (NASDAQ:MEIP - Get Free Report) was upgraded by analysts at Wall Street Zen to a "hold" rating in a report issued on Saturday.

MEI Pharma Price Performance

Shares of MEIP stock traded up $0.03 during midday trading on Friday, hitting $5.00. The company had a trading volume of 284,045 shares, compared to its average volume of 574,221. The company's 50 day simple moving average is $4.11 and its 200 day simple moving average is $2.89. MEI Pharma has a 52-week low of $1.46 and a 52-week high of $9.00. The stock has a market cap of $161.85 million, a price-to-earnings ratio of -1.05 and a beta of 0.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rangeley Capital LLC purchased a new position in shares of MEI Pharma in the 2nd quarter valued at approximately $25,000. Toronto Dominion Bank acquired a new position in MEI Pharma during the fourth quarter worth $62,000. Finally, Northern Trust Corp raised 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 worth $88,000 after acquiring an additional 12,561 shares in the last quarter. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

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.