MEI Pharma (NASDAQ:MEIP) Upgraded at Wall Street Zen

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 research analysts at Wall Street Zen to a "hold" rating in a note issued to investors on Saturday.

MEI Pharma Stock Up 1.9%

Shares of NASDAQ:MEIP traded up $0.10 during trading on Friday, hitting $5.26. 59,301 shares of the company traded hands, compared to its average volume of 434,216. The stock has a market capitalization of $170.27 million, a price-to-earnings ratio of -1.11 and a beta of 0.37. The business's fifty day moving average is $4.23 and its 200-day moving average is $2.93. MEI Pharma has a one year low of $1.46 and a one year high of $9.00.

Hedge Funds Weigh In On MEI Pharma

Several institutional investors have recently made changes to their positions in MEIP. Rangeley Capital LLC bought a new position in shares of MEI Pharma during the second quarter valued at approximately $25,000. Toronto Dominion Bank bought a new position in shares of MEI Pharma during the fourth quarter valued at approximately $62,000. Finally, Northern Trust Corp grew its holdings in shares of MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company's stock valued at $88,000 after purchasing an additional 12,561 shares during the last quarter. 52.38% of the stock is owned by institutional investors.

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.