MEI Pharma (NASDAQ:MEIP) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.
Separately, Zacks Investment Research cut MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 8th.
Shares of MEI Pharma (NASDAQ:MEIP) traded up $0.02 on Friday, reaching $2.26. The company’s stock had a trading volume of 89,009 shares, compared to its average volume of 190,115. MEI Pharma has a fifty-two week low of $1.34 and a fifty-two week high of $3.26.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC bought a new position in shares of MEI Pharma in the third quarter worth about $586,000. OxFORD Asset Management LLP boosted its stake in shares of MEI Pharma by 96.9% in the third quarter. OxFORD Asset Management LLP now owns 462,846 shares of the company’s stock worth $1,254,000 after acquiring an additional 227,821 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of MEI Pharma in the third quarter worth about $402,000. Macquarie Group Ltd. bought a new position in shares of MEI Pharma in the third quarter worth about $306,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of MEI Pharma by 659.3% in the third quarter. Russell Investments Group Ltd. now owns 204,199 shares of the company’s stock worth $547,000 after acquiring an additional 177,306 shares during the period. 23.28% of the stock is owned by hedge funds and other institutional investors.
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About MEI Pharma
MEI Pharma, Inc is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).
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