Assenagon Asset Management S.A. Acquires New Stake in MEI Pharma, Inc. (NASDAQ:MEIP)

Assenagon Asset Management S.A. acquired a new stake in MEI Pharma, Inc. (NASDAQ:MEIPGet Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 101,901 shares of the company’s stock, valued at approximately $39,000. Assenagon Asset Management S.A. owned about 0.08% of MEI Pharma at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its stake in MEI Pharma by 483.3% in the second quarter. BNP Paribas Arbitrage SA now owns 62,963 shares of the company’s stock valued at $38,000 after purchasing an additional 52,169 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in MEI Pharma during the 2nd quarter valued at $46,000. MetLife Investment Management LLC raised its holdings in MEI Pharma by 969.4% during the 1st quarter. MetLife Investment Management LLC now owns 79,966 shares of the company’s stock valued at $48,000 after acquiring an additional 72,488 shares during the period. Mirabella Financial Services LLP bought a new stake in MEI Pharma during the 1st quarter valued at $76,000. Finally, XTX Topco Ltd bought a new stake in MEI Pharma during the 1st quarter valued at $89,000. Hedge funds and other institutional investors own 35.74% of the company’s stock.

MEI Pharma Stock Performance

MEI Pharma stock opened at $0.33 on Thursday. The stock has a market cap of $44.24 million, a P/E ratio of -0.83 and a beta of 0.93. MEI Pharma, Inc. has a fifty-two week low of $0.21 and a fifty-two week high of $2.37. The firm’s fifty day moving average price is $0.30 and its 200-day moving average price is $0.41.

MEI Pharma (NASDAQ:MEIPGet Rating) last announced its earnings results on Monday, November 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). MEI Pharma had a negative net margin of 98.17% and a negative return on equity of 115.15%. The company had revenue of $8.73 million during the quarter, compared to analyst estimates of $9.75 million. Sell-side analysts predict that MEI Pharma, Inc. will post -0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MEIP. BTIG Research cut shares of MEI Pharma from a “buy” rating to a “neutral” rating in a report on Tuesday, December 6th. Truist Financial cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, December 6th. Finally, StockNews.com initiated coverage on shares of MEI Pharma in a report on Thursday, January 12th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.86.

MEI Pharma Profile

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MEI Pharma, Inc is a pharmaceutical company, which engages in the development of pharmaceutical compounds. Its products include Zandelisib, Voruciclib, and ME-344. The company was founded on December 1, 2000 and is headquartered in San Diego, CA.

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

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