Mesoblast (NASDAQ:MESO) Stock Price Down 7% – What’s Next?

Mesoblast Limited (NASDAQ:MESO)’s share price dropped 7% during mid-day trading on Friday . The stock traded as low as $12.50 and last traded at $12.37. Approximately 32,555 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 437,548 shares. The stock had previously closed at $13.30.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MESO. Piper Sandler restated an “overweight” rating and set a $24.00 price objective (up from $15.00) on shares of Mesoblast in a report on Friday, February 7th. Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Mesoblast Trading Down 8.9 %

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 firm has a fifty day moving average price of $16.41 and a 200-day moving average price of $13.07.

Institutional Trading of Mesoblast

A number of institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd acquired a new position in Mesoblast during the fourth quarter valued at approximately $30,000. Barclays PLC acquired a new position in shares of Mesoblast during the 4th quarter worth $38,000. Lindbrook Capital LLC lifted its position in shares of Mesoblast by 70.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock worth $43,000 after buying an additional 901 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Mesoblast during the fourth quarter worth about $50,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Mesoblast by 86,566.7% during the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock valued at $51,000 after purchasing an additional 2,597 shares during the last quarter. Institutional investors 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.