Wasatch Advisors Inc. increased its position in shares of MEI Pharma Inc (NASDAQ:MEIP) by 52.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,109,571 shares of the company’s stock after acquiring an additional 380,531 shares during the period. Wasatch Advisors Inc.’s holdings in MEI Pharma were worth $3,406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of MEI Pharma by 70.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,342,115 shares of the company’s stock worth $10,095,000 after buying an additional 964,033 shares during the period. Vanguard Group Inc grew its position in shares of MEI Pharma by 70.0% in the 3rd quarter. Vanguard Group Inc now owns 2,342,115 shares of the company’s stock worth $10,095,000 after buying an additional 964,033 shares during the period. Fosun International Ltd purchased a new stake in shares of MEI Pharma in the 4th quarter worth about $801,000. Alps Advisors Inc. purchased a new stake in shares of MEI Pharma in the 4th quarter worth about $434,000. Finally, Acadian Asset Management LLC grew its position in shares of MEI Pharma by 19.8% in the 4th quarter. Acadian Asset Management LLC now owns 186,335 shares of the company’s stock worth $492,000 after buying an additional 30,814 shares during the period. 57.64% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating on shares of MEI Pharma in a research report on Friday, May 10th. Zacks Investment Research raised shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Thursday, April 11th. Oppenheimer reaffirmed a “buy” rating on shares of MEI Pharma in a research report on Tuesday, March 19th. Finally, BTIG Research assumed coverage on shares of MEI Pharma in a research report on Tuesday, February 12th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $8.05.

MEI Pharma stock traded up $0.06 during mid-day trading on Friday, reaching $3.11. The stock had a trading volume of 78,102 shares, compared to its average volume of 180,373. The stock has a market cap of $221.71 million, a price-to-earnings ratio of -4.20 and a beta of 1.95. MEI Pharma Inc has a one year low of $1.82 and a one year high of $5.14.

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MEI Pharma Profile

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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