MEI Pharma (MEIP) Set to Announce Quarterly Earnings on Tuesday

Posted by on Sep 24th, 2023

MEI Pharma (NASDAQ:MEIP – Get Free Report) is scheduled to release its earnings data after the market closes on Tuesday, September 26th. Analysts expect MEI Pharma to post earnings of ($3.25) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

MEI Pharma Trading Up 14.0 %

MEIP stock opened at $7.55 on Friday. The stock has a 50-day moving average price of $6.45 and a two-hundred day moving average price of $6.88. The stock has a market cap of $50.31 million, a PE ratio of -1.37 and a beta of 0.95. MEI Pharma has a 1 year low of $4.00 and a 1 year high of $8.80.

Insider Transactions at MEI Pharma

In other MEI Pharma news, major shareholder Anson Funds Management Lp acquired 120,000 shares of MEI Pharma stock in a transaction dated Wednesday, September 20th. The stock was bought at an average cost of $6.01 per share, for a total transaction of $721,200.00. Following the purchase, the insider now directly owns 782,528 shares in the company, valued at approximately $4,702,993.28. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 6.16% of the company’s stock.

Institutional Investors Weigh In On MEI Pharma

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in MEI Pharma by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,668,708 shares of the company’s stock valued at $2,965,000 after purchasing an additional 322,969 shares during the last quarter. BlackRock Inc. lifted its stake in MEI Pharma by 2.7% in the 1st quarter. BlackRock Inc. now owns 6,867,423 shares of the company’s stock valued at $4,138,000 after purchasing an additional 177,552 shares during the last quarter. Renaissance Technologies LLC lifted its stake in MEI Pharma by 5.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,804,357 shares of the company’s stock valued at $642,000 after purchasing an additional 140,000 shares during the last quarter. State Street Corp lifted its stake in MEI Pharma by 3.3% in the 1st quarter. State Street Corp now owns 1,949,006 shares of the company’s stock valued at $1,174,000 after purchasing an additional 61,832 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in MEI Pharma in the 2nd quarter valued at about $829,000. 41.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of MEI Pharma in a research note on Friday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, MEI Pharma presently has an average rating of “Hold” and an average price target of $40.00.

Check Out Our Latest Analysis on MEIP

MEI Pharma Company Profile

(Get Free Report)

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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Earnings History for MEI Pharma (NASDAQ:MEIP)

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