Mesoblast (NASDAQ:MESO) Stock Price Down 3.4% – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s stock price traded down 3.4% during trading on Tuesday . The company traded as low as $18.10 and last traded at $18.32. 102,181 shares changed hands during trading, a decline of 72% from the average session volume of 360,621 shares. The stock had previously closed at $18.96.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler lifted their target price on Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, September 24th. Finally, Jefferies Financial Group cut shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Mesoblast currently has an average rating of “Hold” and an average target price of $13.50.

Mesoblast Trading Down 1.9 %

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average price of $12.55 and a two-hundred day moving average price of $9.20.

Hedge Funds Weigh In On Mesoblast

A number of large investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in Mesoblast during the second quarter valued at approximately $562,000. XY Capital Ltd acquired a new position in shares of Mesoblast in the third quarter worth $244,000. Jane Street Group LLC raised its stake in shares of Mesoblast by 46.4% during the 3rd quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after purchasing an additional 26,959 shares in the last quarter. Creative Planning bought a new position in Mesoblast during the third quarter valued at approximately $147,000. Finally, XTX Topco Ltd acquired a new stake in Mesoblast in the second quarter valued at approximately $103,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage cells.