Carlson Capital L P Has $888,000 Position in MEI Pharma, Inc. (NASDAQ:MEIP)

Carlson Capital L P decreased its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 93.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,000 shares of the company’s stock after selling 1,965,000 shares during the quarter. Carlson Capital L P owned approximately 2.03% of MEI Pharma worth $888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MEIP. Simplex Trading LLC acquired a new stake in shares of MEI Pharma during the 2nd quarter worth about $28,000. BML Capital Management LLC acquired a new stake in MEI Pharma during the second quarter worth approximately $151,000. Anson Funds Management LP boosted its holdings in shares of MEI Pharma by 24.8% during the first quarter. Anson Funds Management LP now owns 13,250,582 shares of the company’s stock worth $3,033,000 after acquiring an additional 2,632,623 shares during the period. Jane Street Group LLC acquired a new position in shares of MEI Pharma in the first quarter valued at approximately $31,000. Finally, Two Sigma Investments LP increased its stake in shares of MEI Pharma by 26.9% during the first quarter. Two Sigma Investments LP now owns 233,931 shares of the company’s stock worth $54,000 after purchasing an additional 49,526 shares during the period. 41.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MEIP has been the topic of a number of research reports. StockNews.com assumed coverage on MEI Pharma in a report on Friday. They issued a “hold” rating on the stock. Stifel Nicolaus lowered their price target on shares of MEI Pharma from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, MEI Pharma has an average rating of “Hold” and an average price target of $24.50.

Insider Buying and Selling at MEI Pharma

In other MEI Pharma news, major shareholder Anson Funds Management Lp purchased 120,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was bought at an average price of $6.01 per share, with a total value of $721,200.00. Following the acquisition, the insider now owns 782,528 shares of the company’s stock, valued at $4,702,993.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.90% of the company’s stock.

MEI Pharma Stock Down 2.0 %

Shares of NASDAQ:MEIP traded down $0.12 during trading on Friday, reaching $6.02. 95,395 shares of the company traded hands, compared to its average volume of 61,668. MEI Pharma, Inc. has a 52 week low of $4.00 and a 52 week high of $8.60. The company’s 50 day moving average is $6.71 and its two-hundred day moving average is $6.81. The firm has a market capitalization of $40.09 million, a PE ratio of 0.97 and a beta of 0.76.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Tuesday, September 26th. The company reported ($1.51) EPS for the quarter, beating the consensus estimate of ($3.25) by $1.74. The company had revenue of $1.46 million during the quarter, compared to analysts’ expectations of $0.75 million. MEI Pharma had a net margin of 39.06% and a return on equity of 86.21%. As a group, research analysts anticipate that MEI Pharma, Inc. will post 3.48 EPS for the current year.

MEI Pharma Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Friday, November 17th will be paid a dividend of $1.75 per share. The ex-dividend date of this dividend is Thursday, November 16th.

About MEI Pharma

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.