Vivo Capital LLC Sells 96,709 Shares of MEI Pharma Inc (NASDAQ:MEIP)

Vivo Capital LLC reduced its holdings in MEI Pharma Inc (NASDAQ:MEIP) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,681,397 shares of the company’s stock after selling 96,709 shares during the quarter. MEI Pharma accounts for about 1.3% of Vivo Capital LLC’s investment portfolio, making the stock its 21st largest position. Vivo Capital LLC owned 7.97% of MEI Pharma worth $14,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MEIP. BlackRock Inc. increased its stake in MEI Pharma by 511.4% in the 2nd quarter. BlackRock Inc. now owns 3,650,912 shares of the company’s stock worth $9,127,000 after acquiring an additional 3,053,745 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of MEI Pharma by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,565,513 shares of the company’s stock worth $6,414,000 after purchasing an additional 440,500 shares in the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of MEI Pharma by 52.2% in the 1st quarter. Wasatch Advisors Inc. now owns 1,109,571 shares of the company’s stock worth $3,406,000 after purchasing an additional 380,531 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MEI Pharma by 385.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 183,255 shares of the company’s stock worth $458,000 after purchasing an additional 145,492 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of MEI Pharma by 930.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 156,907 shares of the company’s stock worth $393,000 after purchasing an additional 141,679 shares in the last quarter. Institutional investors and hedge funds own 64.47% of the company’s stock.

A number of research firms have recently issued reports on MEIP. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of MEI Pharma in a report on Monday, June 24th. Zacks Investment Research upgraded MEI Pharma from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a report on Tuesday, September 3rd. Finally, ValuEngine cut MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $6.50.

In related news, Director Christine Anna White bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $1.74 per share, for a total transaction of $26,100.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $26,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.01% of the company’s stock.

MEIP stock traded up $0.09 during trading on Friday, hitting $2.01. 48,629 shares of the company traded hands, compared to its average volume of 204,149. The firm has a market capitalization of $136.16 million, a PE ratio of -3.23 and a beta of 1.68. MEI Pharma Inc has a 1 year low of $1.44 and a 1 year high of $4.80. The company has a 50-day moving average of $1.67 and a 200-day moving average of $2.54.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Wednesday, August 28th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.18. The company had revenue of $1.13 million during the quarter, compared to analysts’ expectations of $1.05 million. MEI Pharma had a negative return on equity of 76.61% and a negative net margin of 819.04%. As a group, equities analysts predict that MEI Pharma Inc will post -0.79 earnings per share for the current fiscal year.

About MEI Pharma

MEI Pharma, Inc, a pharmaceutical company, focuses on the clinical development of novel therapies for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an oral available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.

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

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