MEI Pharma (NASDAQ:MEIP – Get Rating) announced its earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06, Fidelity Earnings reports. MEI Pharma had a negative return on equity of 108.04% and a negative net margin of 80.49%.
MEI Pharma Price Performance
NASDAQ:MEIP opened at $0.55 on Friday. The business’s fifty day moving average price is $0.54 and its 200 day moving average price is $0.76. MEI Pharma has a 12 month low of $0.41 and a 12 month high of $3.55.
Hedge Funds Weigh In On MEI Pharma
Several large investors have recently bought and sold shares of MEIP. Renaissance Technologies LLC increased its holdings in MEI Pharma by 186.1% in the second quarter. Renaissance Technologies LLC now owns 2,725,773 shares of the company’s stock valued at $1,649,000 after buying an additional 1,773,200 shares during the last quarter. Millennium Management LLC acquired a new position in MEI Pharma in the second quarter valued at $829,000. Prudential Financial Inc. acquired a new position in MEI Pharma in the first quarter valued at $343,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in MEI Pharma in the first quarter valued at $317,000. Finally, Vanguard Group Inc. boosted its stake in MEI Pharma by 8.3% in the first quarter. Vanguard Group Inc. now owns 6,245,990 shares of the company’s stock valued at $3,763,000 after acquiring an additional 476,251 shares in the last quarter. Hedge funds and other institutional investors own 35.80% of the company’s stock.
Analyst Ratings Changes
About MEI Pharma
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.
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