Here’s Why GreenWood Invested in MEI Pharma (MEIP)

GreenWood Investors LLC, an investment management firm, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio was not performed as per the standard in the second quarter. The US-denominated Global Micro Fund was down 16.6% in the quarter, and its euro-denominated Luxembourg fund returned -17.0%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

GreenWood Investors LLC discussed stocks like MEI Pharma, Inc. (NASDAQ:MEIP) in the second quarter investor letter. Headquartered in San Diego, California, MEI Pharma, Inc. (NASDAQ:MEIP) is a pharmaceutical company. September 16, 2022, MEI Pharma, Inc. (NASDAQ:MEIP) stock closed at $0.5000 per share. One-month return of MEI Pharma, Inc. (NASDAQ:MEIP) was -6.51% and its shares lost 81.41% of their value over the last 52 weeks. MEI Pharma, Inc. (NASDAQ:MEIP) has a market capitalization of $66.63 million.

Here is what GreenWood Investors specifically said about MEI Pharma, Inc. (NASDAQ:MEIP) in its Q2 2022 investor letter:

“We also expect a very important update to MEI Pharma, Inc. (NASDAQ:MEIP)’s regulatory strategy which will alleviate market concerns on its own drug’s timeliness to market. While many catalysts depend on a healthy market environment to play out, these do not. They can perform in any economic scenario. Trying to predict with accuracy when the stock will reflect the underlying developments is impossible. But we do know that if you miss the most material upside days of certain stocks, the realized returns are significantly more mediocre. To the extent we are well-aligned with the insiders at the company and the improving fundamentals, we can’t really just “sit this out,” until market conditions improve.”

MEI Pharma, Inc. (NASDAQ:MEIP) is in not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held MEI Pharma, Inc. (NASDAQ:MEIP) at the end of the second quarter which was 9 in the previous quarter.

We discussed MEI Pharma, Inc. (NASDAQ:MEIP) in another article and shared the list of healthcare stocks for the future investment. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.