Cubist Systematic Strategies LLC Takes Position in MEI Pharma Inc (NASDAQ:MEIP)

Cubist Systematic Strategies LLC acquired a new position in shares of MEI Pharma Inc (NASDAQ:MEIP) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 18,262 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. A.R.T. Advisors LLC boosted its stake in MEI Pharma by 55.6% during the second quarter. A.R.T. Advisors LLC now owns 22,117 shares of the company’s stock valued at $55,000 after buying an additional 7,900 shares in the last quarter. Russell Investments Group Ltd. bought a new position in MEI Pharma during the second quarter valued at about $56,000. Algert Global LLC boosted its stake in MEI Pharma by 105.4% during the second quarter. Algert Global LLC now owns 38,797 shares of the company’s stock valued at $97,000 after buying an additional 19,907 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in MEI Pharma by 1,795.7% during the second quarter. Tower Research Capital LLC TRC now owns 107,163 shares of the company’s stock valued at $268,000 after buying an additional 101,510 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in MEI Pharma by 92.6% during the second quarter. Northern Trust Corp now owns 119,007 shares of the company’s stock valued at $298,000 after buying an additional 57,211 shares in the last quarter. Hedge funds and other institutional investors own 59.45% of the company’s stock.

Shares of NASDAQ MEIP traded up $0.03 during mid-day trading on Friday, hitting $1.83. 80,500 shares of the company traded hands, compared to its average volume of 274,432. The stock has a market capitalization of $141.42 million, a price-to-earnings ratio of -2.95 and a beta of 1.65. The business has a 50 day moving average of $1.76 and a two-hundred day moving average of $2.18. MEI Pharma Inc has a 1 year low of $1.44 and a 1 year high of $3.41.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Wednesday, August 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.18. The firm had revenue of $1.13 million for the quarter, compared to analyst estimates 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 expect that MEI Pharma Inc will post -0.69 EPS for the current fiscal year.

In other MEI Pharma news, Director Christine Anna White bought 15,000 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $1.74 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.77% of the company’s stock.

MEIP has been the subject of several research reports. Zacks Investment Research raised MEI Pharma from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research note on Friday, November 1st. ValuEngine raised MEI Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $6.50.

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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