24,370 Shares in MEI Pharma, Inc. (NASDAQ:MEIP) Acquired by Corsair Capital Management L.P.

Corsair Capital Management L.P. acquired a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 24,370 shares of the company’s stock, valued at approximately $69,000.

Separately, National Bank of Canada FI raised its position in MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after purchasing an additional 10,000 shares in the last quarter. 52.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on MEI Pharma in a research report on Saturday. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.00.

MEI Pharma Price Performance

NASDAQ:MEIP opened at $2.84 on Wednesday. MEI Pharma, Inc. has a 12 month low of $2.61 and a 12 month high of $6.91. The business’s fifty day moving average price is $2.89 and its 200 day moving average price is $3.01.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. As a group, equities research analysts predict that MEI Pharma, Inc. will post -5.1 EPS for the current year.

MEI Pharma Profile

MEI Pharma, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.