Mesoblast (NASDAQ:MESO) Sees Strong Trading Volume – Time to Buy?

Mesoblast Limited (NASDAQ:MESO) shares saw unusually-strong trading volume on Friday . Approximately 419,400 shares traded hands during mid-day trading, a decline of 21% from the previous session’s volume of 532,140 shares.The stock last traded at $17.18 and had previously closed at $17.90.

Analysts Set New Price Targets

MESO has been the subject of a number of analyst reports. Jefferies Financial Group cut shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, September 24th. Finally, Piper Sandler boosted their price target on Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Mesoblast Price Performance

The stock has a 50 day moving average price of $13.07 and a two-hundred day moving average price of $9.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Mesoblast by 22.1% in the 4th quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock valued at $133,000 after purchasing an additional 1,213 shares during the period. Jane Street Group LLC increased its holdings in Mesoblast by 46.4% in the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock valued at $695,000 after purchasing an additional 26,959 shares during the last quarter. XY Capital Ltd bought a new position in Mesoblast during the third quarter worth about $244,000. Signaturefd LLC grew its position in shares of Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after buying an additional 3,099 shares during the period. Finally, Creative Planning acquired a new position in shares of Mesoblast during the 3rd quarter worth about $147,000. Institutional investors 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.