Altium Capital Management LP Raises Stake in MEI Pharma, Inc. (NASDAQ:MEIP)

Altium Capital Management LP boosted its position in MEI Pharma, Inc. (NASDAQ:MEIP) by 186.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,828,066 shares of the company’s stock after buying an additional 1,189,983 shares during the quarter. MEI Pharma makes up approximately 1.2% of Altium Capital Management LP’s portfolio, making the stock its 26th biggest position. Altium Capital Management LP owned about 1.62% of MEI Pharma worth $5,210,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MEIP. WINTON GROUP Ltd raised its holdings in shares of MEI Pharma by 18.1% during the second quarter. WINTON GROUP Ltd now owns 30,863 shares of the company’s stock valued at $88,000 after acquiring an additional 4,738 shares in the last quarter. Sigma Planning Corp raised its stake in shares of MEI Pharma by 6.3% in the second quarter. Sigma Planning Corp now owns 84,450 shares of the company’s stock worth $241,000 after buying an additional 5,000 shares during the period. SG Americas Securities LLC grew its holdings in MEI Pharma by 48.8% during the 1st quarter. SG Americas Securities LLC now owns 19,748 shares of the company’s stock valued at $68,000 after buying an additional 6,473 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of MEI Pharma by 5.9% in the 1st quarter. ClariVest Asset Management LLC now owns 144,600 shares of the company’s stock worth $496,000 after purchasing an additional 8,100 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of MEI Pharma by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 355,893 shares of the company’s stock worth $1,221,000 after purchasing an additional 8,486 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

MEIP traded down $0.06 on Thursday, hitting $2.98. 10,983 shares of the company’s stock were exchanged, compared to its average volume of 676,358. The firm has a market cap of $335.78 million, a PE ratio of -4.43 and a beta of 1.54. MEI Pharma, Inc. has a twelve month low of $2.40 and a twelve month high of $4.57. The stock has a fifty day moving average of $2.79 and a two-hundred day moving average of $2.98.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Tuesday, September 7th. The company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.12. MEI Pharma had a negative net margin of 198.06% and a negative return on equity of 80.62%. The firm had revenue of $10.12 million during the quarter, compared to analysts’ expectations of $5.18 million. On average, equities analysts expect that MEI Pharma, Inc. will post -0.59 EPS for the current fiscal year.

Several analysts have weighed in on the company. BTIG Research reiterated a “buy” rating and set a $9.00 price target on shares of MEI Pharma in a research note on Sunday, September 5th. Truist lowered their price objective on MEI Pharma from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, September 9th. Rowe raised their price target on MEI Pharma from $11.50 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 7th. Zacks Investment Research cut MEI Pharma from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of MEI Pharma in a research report on Friday, September 3rd. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $11.00.

MEI Pharma Company Profile

MEI Pharma, Inc is a pharmaceutical company, which engages in the clinical development of therapies for cancer. Its drug candidates include Pracinostat, an oral HDAC inhibitor that is being developed in combination with azacitidine for the treatment of acute myeloid leukemia and myelodysplastic syndrome.

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

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