MEI Pharma, Inc. (NASDAQ:MEIP) Stock Position Raised by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 70.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,000 shares of the company’s stock after acquiring an additional 36,400 shares during the quarter. DAVENPORT & Co LLC owned 0.08% of MEI Pharma worth $232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Wealth Advisors Group LLC boosted its stake in shares of MEI Pharma by 29.2% during the 3rd quarter. Strategic Wealth Advisors Group LLC now owns 138,350 shares of the company’s stock worth $432,000 after acquiring an additional 31,250 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of MEI Pharma during the 3rd quarter worth $155,000. Squarepoint Ops LLC boosted its stake in shares of MEI Pharma by 146.8% during the 3rd quarter. Squarepoint Ops LLC now owns 103,701 shares of the company’s stock worth $324,000 after acquiring an additional 61,678 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of MEI Pharma during the 3rd quarter worth $53,000. Finally, First Light Asset Management LLC bought a new stake in shares of MEI Pharma during the 3rd quarter worth $11,743,000. 54.58% of the stock is owned by institutional investors and hedge funds.

MEIP opened at $2.81 on Thursday. The stock has a market cap of $316.19 million, a price-to-earnings ratio of -4.68 and a beta of 1.71. MEI Pharma, Inc. has a 1 year low of $0.72 and a 1 year high of $4.46. The stock has a fifty day moving average price of $2.87 and a 200 day moving average price of $2.96.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). MEI Pharma had a negative net margin of 142.81% and a negative return on equity of 33.55%. The firm had revenue of $3.83 million for the quarter, compared to analyst estimates of $2.48 million. As a group, research analysts forecast that MEI Pharma, Inc. will post -0.66 earnings per share for the current year.

Several equities research analysts have recently weighed in on MEIP shares. Lifesci Capital reissued an “outperform” rating on shares of MEI Pharma in a research note on Wednesday, October 21st. ValuEngine raised MEI Pharma from a “hold” rating to a “buy” rating in a research report on Friday, November 13th. Alliance Global Partners started coverage on MEI Pharma in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $9.00 target price for the company. Brookline Capital Management reaffirmed a “buy” rating on shares of MEI Pharma in a research report on Monday, October 12th. Finally, BidaskClub cut MEI Pharma from a “hold” rating to a “sell” rating in a research report on Thursday, January 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $9.29.

MEI Pharma Profile

MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase II 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 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.

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Institutional Ownership by Quarter for MEI Pharma (NASDAQ:MEIP)

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