MEI Pharma, Inc. (NASDAQ:MEIP) Short Interest Down 38.9% in January

MEI Pharma, Inc. (NASDAQ:MEIP) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 5,800 shares, a decrease of 38.9% from the January 15th total of 9,500 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 23,200 shares, the short-interest ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of MEI Pharma in a research report on Tuesday. They set a “buy” rating for the company.

MEI Pharma Price Performance

MEI Pharma stock opened at $2.66 on Thursday. The company’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.90. MEI Pharma has a twelve month low of $2.30 and a twelve month high of $4.90.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. On average, analysts forecast that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of MEI Pharma during the fourth quarter worth $26,000. Corsair Capital Management L.P. bought a new position in MEI Pharma during the third quarter worth about $69,000. Finally, World Investment Advisors LLC bought a new position in MEI Pharma during the third quarter worth about $71,000. 52.38% of the stock is owned by institutional investors and hedge funds.

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.