Zacks Investment Research upgraded shares of MEI Pharma Inc. (NASDAQ:MEIP) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

According to Zacks, “MEI Pharma, Inc. is an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The Company is focused on the clinical development of its two lead isoflavone-based drug candidates, ME-143 and ME-344. MEI Pharma, Inc., formerly known as Marshall Edwards, Inc., is based in San Diego. “

Separately, Wedbush restated a neutral rating and issued a $2.00 price objective on shares of MEI Pharma in a report on Tuesday, August 2nd.

MEI Pharma (NASDAQ:MEIP) traded down 2.42% during midday trading on Tuesday, hitting $1.61. 89,890 shares of the stock traded hands. The company’s 50 day moving average is $1.64 and its 200-day moving average is $1.57. MEI Pharma has a one year low of $0.87 and a one year high of $2.28. The company’s market cap is $59.20 million.

Large investors have recently made changes to their positions in the company. Iguana Healthcare Management LLC bought a new stake in shares of MEI Pharma during the third quarter valued at approximately $528,000. Bridgeway Capital Management Inc. raised its stake in shares of MEI Pharma by 9.6% in the second quarter. Bridgeway Capital Management Inc. now owns 427,500 shares of the company’s stock valued at $581,000 after buying an additional 37,500 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of MEI Pharma by 6.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 448,639 shares of the company’s stock valued at $610,000 after buying an additional 25,860 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MEI Pharma by 0.7% in the second quarter. Vanguard Group Inc. now owns 1,036,977 shares of the company’s stock valued at $1,410,000 after buying an additional 7,383 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of MEI Pharma during the first quarter valued at approximately $283,000. Hedge funds and other institutional investors own 20.78% of the company’s stock.

MEI Pharma Company Profile

MEI Pharma, Inc is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).

5 Day Chart for NASDAQ:MEIP

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