How MEI Pharma Inc (MEIP) Stacks Up Against Its Peers

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Consequently, some big names have been driving this bullishness. Iguana Healthcare Management created the most valuable position in MEI Pharma Inc (NASDAQ:MEIP). Israel Englander’s Millennium Management also made a small investment in the stock during the quarter. The following funds were also among the new MEIP investors: GRT Capital Partners and Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks similar to MEI Pharma Inc (NASDAQ:MEIP). These stocks are AMREP Corporation (NYSE:AXR), Turtle Beach Corp (NASDAQ:HEAR), Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS), and Calithera Biosciences Inc (NASDAQ:CALA). This group of stocks’ market valuations are similar to MEIP’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AXR 4 4799 4
HEAR 4 1342 4
SNSS 7 18076 -4
CALA 6 12162 -2

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $9 million. That figure was $3 million in MEIP’s case. Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) is the most popular stock in this table. On the other hand AMREP Corporation (NYSE:AXR) is the least popular one with only 4 bullish hedge fund positions. MEI Pharma Inc (NASDAQ:MEIP) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard SNSS might be a better candidate to consider taking a long position in.

Disclosure: None

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