MEIP is still, primarily, a retail investor stock, and retail investors are a bunch of nervous nellies who jump at a few cents gain.
Institutional holdings are at 29% per Nasdaq. We'll see if this has changed when the new numbers come out on August 15.
None of the savvy biotech hedge funds--Baker Bros., Opaleye, Sabby, Cormorant, Perceptive, Dafna, etc. are holders. Maybe that will change in time.
Bladerunner