MEI Pharma Inc. [NASDAQ: MEIP] stock went on an upward path that rose over 1.89% on Wednesday, amounting to a one-week price decrease of less than -12.09%. The company report on December 19, 2020 that MEI PHARMA INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of MEI Pharma, Inc. – MEIP.
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into MEI Pharma, Inc. (NasdaqGS: MEIP).
From August 2017, the Company repeatedly touted the potency and effectiveness of its drug candidate, Pracinostat, in its Phase 2 trial. However, on July 2, 2020, the Company disclosed that it was discontinuing the Phase 3 trial of Pracinostat, due to an interim futility analysis of the study that “demonstrated [Pracinostat] was unlikely to meet the primary endpoint of overall survival compared to the control group.”.
Over the last 12 months, MEIP stock rose by 8.47%. The average equity rating for MEIP stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $336.06 million, with 112.44 million shares outstanding and 109.32 million shares in the current float. Compared to the average trading volume of 637.19K shares, MEIP stock reached a trading volume of 948778 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on MEI Pharma Inc. [MEIP]:
Alliance Global Partners have made an estimate for MEI Pharma Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 22, 2020. While these analysts kept the previous recommendation, SunTrust raised their target price to Buy. The new note on the price target was released on May 29, 2020, representing the official price target for MEI Pharma Inc. stock. Previously, the target price had yet another raise to $10, while H.C. Wainwright analysts kept a Buy rating on MEIP stock.
The Average True Range (ATR) for MEI Pharma Inc. is set at 0.16, with the Price to Sales ratio for MEIP stock in the period of the last 12 months amounting to 10.63. The Price to Book ratio for the last quarter was 3.68, with the Price to Cash per share for the same quarter was set at 1.41.
MEIP Stock Performance Analysis:
MEI Pharma Inc. [MEIP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.09. With this latest performance, MEIP shares dropped by -6.60% in over the last four-week period, additionally sinking by -37.00% over the last 6 months – not to mention a rise of 8.47% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MEIP stock in for the last two-week period is set at 43.06, with the RSI for the last a single of trading hit 40.47, and the three-weeks RSI is set at 44.71 for MEI Pharma Inc. [MEIP]. The present Moving Average for the last 50 days of trading for this stock 2.83, while it was recorded at 2.85 for the last single week of trading, and 2.89 for the last 200 days.
Insight into MEI Pharma Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and MEI Pharma Inc. [MEIP] shares currently have an operating margin of -84.88 and a Gross Margin at +90.76. MEI Pharma Inc.’s Net Margin is presently recorded at -159.15.
Return on Total Capital for MEIP is now -38.91, given the latest momentum, and Return on Invested Capital for the company is -72.96. Return on Equity for this stock declined to -72.96, with Return on Assets sitting at -31.48.
Reflecting on the efficiency of the workforce at the company, MEI Pharma Inc. [MEIP] managed to generate an average of -$902,275 per employee. Receivables Turnover for the company is 1.95 with a Total Asset Turnover recorded at a value of 0.20.MEI Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.50 and a Current Ratio set at 6.50.
MEIP Stock EPS
With the latest financial reports released by the company, MEI Pharma Inc. posted -0.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -52.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MEIP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MEI Pharma Inc. go to -0.10%.
MEI Pharma Inc. [MEIP] Insider Position Details
There are presently around $205 million, or 69.90% of MEIP stock, in the hands of institutional investors. The top three institutional holders of MEIP stocks are: MPM ONCOLOGY IMPACT MANAGEMENT LP with ownership of 10,137,859, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; NEA MANAGEMENT COMPANY, LLC, holding 8,533,072 shares of the stock with an approximate value of $22.95 million in MEIP stocks shares; and BLACKROCK INC., currently with $18.77 million in MEIP stock with ownership of nearly 2.152% of the company’s market capitalization.
Positions in MEI Pharma Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 48 institutional holders increased their position in MEI Pharma Inc. [NASDAQ:MEIP] by around 8,809,804 shares. Additionally, 55 investors decreased positions by around 5,783,840 shares, while 19 investors held positions by with 61,631,734 shares. The mentioned changes placed institutional holdings at 76,225,378 shares, according to the latest SEC report filing. MEIP stock had 18 new institutional investments in for a total of 5,120,982 shares, while 18 institutional investors sold positions of 2,954,441 shares during the same period.