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Why MEI Pharma Inc. Stock Might Make Sense If Bought Today

MEI Pharma Inc. (NASDAQ:MEIP) traded at $0.38 at close of the session on Tuesday, 11/22/22, made an upward move of 0.37% on its previous day’s price.

Looking at the stock we see that its previous close was $0.38 and the beta (5Y monthly) reads 0.91 with the day’s price range being $0.3569 – $0.3925. In terms of its 52-week price range, MEIP has a high of $3.55 and a low of $0.28. The company’s stock has gained about 10.48% over that past 30 days.

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MEI Pharma Inc. has a market cap of $51.84 million and is expected to release its quarterly earnings report on Feb 08, 2023 – Feb 13, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.14, with the EPS growth for the year raised at -$0.78 for 2023 and -$0.63 for next year. These figures represent -77.30% and 19.20% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $5.9 million, with a low of $1.5 million and a high of $9.75 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $18.41 million, or -54.80% down from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the MEIP stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Looking further, we note the current price level is 9.57% off its SMA20 and -0.91% from its 50-day simple moving average. The RSI (14) is pointing at 54.99 while the volatility over the past week is 13.03% and jumps to 9.24% over the past one month. The beta value is 0.86, while the average true range (ATR) is currently pointing at 0.03.

Let’s briefly compare MEI Pharma Inc. (MEIP) stock to its peers. We find that current price change of 0.37% and -86.00% over the past 12 months for MEIP. Another of its peers Savara Inc. (SVRA) has dropped -0.70% previous session, and was 20.34% up over the past year, while Ligand Pharmaceuticals Incorporated (LGND) was also down -4.62% in the last session, while its price remained in the red at -29.93% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.36% and 1.18%, respectively, at close of the trading.

Coming back to MEI Pharma Inc. (NASDAQ:MEIP), we note that the average 3-month trading volume was 738.77K, while that of the preceding 10-day period stands at 1.07 million. Current shares outstanding are 133.25 million.

The insiders hold 0.48% of the company’s shares while institutions hold 38.10%. The data shows that short shares as of Oct 13, 2022, stood at 4.91 million at a short ratio of 7.89. This represents a 3.68% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 4.65 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -85.90% down in year-to-date price movement.

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