ClariVest Asset Management LLC Reduces Position in MEI Pharma Inc (MEIP)

Share on StockTwits

ClariVest Asset Management LLC lowered its stake in shares of MEI Pharma Inc (NASDAQ:MEIP) by 17.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,000 shares of the company’s stock after selling 36,600 shares during the quarter. ClariVest Asset Management LLC’s holdings in MEI Pharma were worth $670,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bailard Inc. bought a new position in MEI Pharma during the second quarter worth $571,000. NEA Management Company LLC bought a new position in MEI Pharma during the second quarter worth $22,539,000. Sio Capital Management LLC increased its position in MEI Pharma by 13.0% during the first quarter. Sio Capital Management LLC now owns 934,563 shares of the company’s stock worth $1,935,000 after acquiring an additional 107,650 shares during the period. Deutsche Bank AG increased its position in MEI Pharma by 43.1% during the fourth quarter. Deutsche Bank AG now owns 227,932 shares of the company’s stock worth $478,000 after acquiring an additional 68,691 shares during the period. Finally, Wasatch Advisors Inc. bought a new position in MEI Pharma during the second quarter worth $1,003,000. 97.50% of the stock is currently owned by institutional investors and hedge funds.

In other MEI Pharma news, COO David M. Urso sold 9,500 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $3.58, for a total value of $34,010.00. Following the sale, the chief operating officer now owns 33,606 shares of the company’s stock, valued at approximately $120,309.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.25% of the company’s stock.

Shares of MEI Pharma stock opened at $4.30 on Friday. The firm has a market capitalization of $162.54 million, a price-to-earnings ratio of -5.65 and a beta of 2.00. MEI Pharma Inc has a 52-week low of $1.79 and a 52-week high of $5.14.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Thursday, August 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.14). The business had revenue of $0.55 million during the quarter, compared to the consensus estimate of $0.46 million. MEI Pharma had a negative net margin of 2,470.28% and a negative return on equity of 67.76%. equities research analysts forecast that MEI Pharma Inc will post -0.64 earnings per share for the current fiscal year.

MEIP has been the topic of a number of research reports. SunTrust Banks initiated coverage on shares of MEI Pharma in a research report on Friday, July 13th. They set a “buy” rating and a $12.00 target price on the stock. Zacks Investment Research raised shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Wednesday, July 11th. Cann reissued a “buy” rating on shares of MEI Pharma in a report on Monday, July 9th. Stifel Nicolaus raised shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Thursday, July 26th. Finally, Wells Fargo & Co raised shares of MEI Pharma from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $7.58.

MEI Pharma Company Profile

MEI Pharma, Inc, an oncology company, focuses on the clinical development of drugs for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an orally available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.

Featured Article: Understanding Analyst Recommendations

Want to see what other hedge funds are holding MEIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MEI Pharma Inc (NASDAQ:MEIP).

Institutional Ownership by Quarter for MEI Pharma (NASDAQ:MEIP)

Receive News & Ratings for MEI Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEI Pharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply