Mesoblast (NASDAQ:MESO) Trading Down 2.2% – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s stock price was down 2.2% during mid-day trading on Wednesday . The company traded as low as $16.53 and last traded at $16.61. Approximately 24,805 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 571,121 shares. The stock had previously closed at $16.98.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MESO shares. Maxim Group raised Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, September 24th. Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Piper Sandler upped 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mesoblast has a consensus rating of “Hold” and an average price target of $13.50.

Mesoblast Trading Down 2.5 %

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $13.92 and a 200-day moving average of $9.74.

Institutional Investors Weigh In On Mesoblast

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC raised its position in Mesoblast by 46.4% in the 3rd 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 in the last quarter. Marshall Wace LLP acquired a new stake in Mesoblast in the 2nd quarter valued at about $562,000. Signaturefd LLC raised its position in Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after purchasing an additional 3,099 shares in the last quarter. Creative Planning acquired a new stake in Mesoblast in the 3rd quarter valued at about $147,000. Finally, Perkins Coie Trust Co raised its position in Mesoblast by 15.0% in the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 1.43% of the company’s stock.

About Mesoblast

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.