MEI Pharma (MEIP) : Traders are bullish on MEI Pharma (MEIP) as it has outperformed the S&P 500 by a wide margin of 43.52% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 26.02%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 26.09% in the last 1 week, and is up 45% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 32.51% and the 50-Day Moving Average is 41.55%. MEI Pharma (NASDAQ:MEIP): stock turned positive on Friday. Though the stock opened at $1.96, the bulls momentum made the stock top out at $2.07 level for the day. The stock recorded a low of $1.9503 and closed the trading day at $2.03, in the green by 2.53%. The total traded volume for the day was 746,434. The stock had closed at $1.98 in the previous days trading.
The company Insiders own 3.14% of MEI Pharma shares according to the proxy statements. Institutional Investors own 29.07% of MEI Pharma shares.
MEI Pharma, Inc. is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Companys portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). ME-344 is an isoflavone-based mitochondrial inhibitor targeting a mitochondrial component of the terminal respiratory chain complex in rapidly proliferating cells. PWT143 is an oral inhibitor of phosphatidylinositide 3-kinase (PI3K) delta, a molecular target that plays a critical role in the proliferation and survival of hematologic cancer cells. Pracinostat has been tested in multiple Phase I and Phase II clinical trials in advanced hematologic malignancies and solid tumor indications.