MEI Pharma Inc. [NASDAQ: MEIP] loss -3.84% or -0.02 points to close at $0.46 with a heavy trading volume of 4386462 shares. The company report on June 1, 2022 that MEI Pharma Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4).
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MEI Pharma, Inc. (NASDAQ: MEIP), a late-stage pharmaceutical company focused on advancing new therapies for cancer, today announced the grant of inducement stock options for an aggregate of 40,000 shares of the company’s common stock to one new employee. The stock options were granted as a material inducement to each new employee accepting employment with MEI in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options have a $0.48 exercise price per share, which is equal to the closing price of the Company’s common stock on the grant date. The options were granted pursuant to the MEI Pharma, Inc. 2021 Inducement Grant Equity Compensation Plan, and have terms and conditions consistent with the MEI Pharma, Inc. Amended and Restated 2008 Stock Omnibus Equity Compensation Plan. The options were approved by the Company’s Compensation Committee of the Board of Directors in reliance on the employment inducement exception under Rule 5635(c)(4), which requires that grants relying on this exception be disclosed promptly in a press release.
It opened the trading session at $0.4888, the shares rose to $0.498 and dropped to $0.4526, the range by which the price of stock traded the whole day. The daily chart for MEIP points out that the company has recorded -86.41% loss over the past six months. However, it is still -12.2% lower than its most recent low trading price.
If we look at the average trading volume of 6.29M shares, MEIP reached to a volume of 4386462 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about MEI Pharma Inc. [MEIP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MEIP shares is $5.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MEIP stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for MEI Pharma Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on March 25, 2022. While these analysts kept the previous recommendation, Stifel dropped their target price from $6 to $2. The new note on the price target was released on March 25, 2022, representing the official price target for MEI Pharma Inc. stock. Previously, the target price had yet another drop from $4 to $1, while Jefferies kept a Hold rating on MEIP stock.
The Average True Range (ATR) for MEI Pharma Inc. is set at 0.05, with the Price to Sales ratio for MEIP stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 1.31.
Trading performance analysis for MEIP stock
MEI Pharma Inc. [MEIP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.81. With this latest performance, MEIP shares dropped by -16.51% in over the last four-week period, additionally sinking by -86.41% over the last 6 months – not to mention a drop of -85.03% 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 38.76, with the RSI for the last a single of trading hit 43.52, and the three-weeks RSI is set at 35.75 for MEI Pharma Inc. [MEIP]. The present Moving Average for the last 50 days of trading for this stock 0.6150, while it was recorded at 0.4432 for the last single week of trading, and 2.0570 for the last 200 days.
MEI Pharma Inc. [MEIP]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and MEI Pharma Inc. [MEIP] shares currently have an operating margin of -272.90 and a Gross Margin at +94.49. MEI Pharma Inc.’s Net Margin is presently recorded at -198.06.
Return on Total Capital for MEIP is now -108.99, given the latest momentum, and Return on Invested Capital for the company is -79.68. Return on Equity for this stock declined to -84.59, with Return on Assets sitting at -26.35. When it comes to the capital structure of this company, MEI Pharma Inc. [MEIP] has a Total Debt to Total Equity ratio set at 20.06. Additionally, MEIP Total Debt to Total Capital is recorded at 16.71, with Total Debt to Total Assets ending up at 4.77. Long-Term Debt to Equity for the company is recorded at 17.82, with the Long-Term Debt to Total Capital now at 14.84.
Reflecting on the efficiency of the workforce at the company, MEI Pharma Inc. [MEIP] managed to generate an average of -$665,461 per employee. Receivables Turnover for the company is 1.64 with a Total Asset Turnover recorded at a value of 0.13.MEI Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.70 and a Current Ratio set at 7.70.
MEI Pharma Inc. [MEIP]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at MEI Pharma Inc. [MEIP]
There are presently around $28 million, or 44.50% of MEIP stock, in the hands of institutional investors. The top three institutional holders of MEIP stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 8,533,072, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 6,867,423 shares of the stock with an approximate value of $3.27 million in MEIP stocks shares; and VANGUARD GROUP INC, currently with $2.97 million in MEIP stock with ownership of nearly 8.254% of the company’s market capitalization.
Positions in MEI Pharma Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 56 institutional holders increased their position in MEI Pharma Inc. [NASDAQ:MEIP] by around 6,458,259 shares. Additionally, 57 investors decreased positions by around 39,290,889 shares, while 17 investors held positions by with 13,021,045 shares. The mentioned changes placed institutional holdings at 58,770,193 shares, according to the latest SEC report filing. MEIP stock had 20 new institutional investments in for a total of 2,508,567 shares, while 35 institutional investors sold positions of 31,812,094 shares during the same period.