Mesoblast (NASDAQ:MESO) Shares Up 3.4% – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s stock price shot up 3.4% during mid-day trading on Tuesday . The company traded as high as $11.40 and last traded at $11.40. 454 shares were traded during mid-day trading, a decline of 100% from the average session volume of 750,209 shares. The stock had previously closed at $11.03.

Wall Street Analyst Weigh In

Several research firms have weighed in on MESO. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, September 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research note on Thursday, August 29th. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Price Performance

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 stock has a 50 day moving average price of $9.16 and a 200 day moving average price of $7.75.

Hedge Funds Weigh In On Mesoblast

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares during the last quarter. Signaturefd LLC grew its holdings in Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after acquiring an additional 3,099 shares during the last quarter. Perkins Coie Trust Co acquired a new position in Mesoblast in the 2nd quarter valued at approximately $68,000. Pine Valley Investments Ltd Liability Co acquired a new position in Mesoblast in the 2nd quarter valued at approximately $80,000. Finally, Rathbones Group PLC bought a new position in shares of Mesoblast during the second quarter valued at $95,000. 1.43% of the stock is currently owned by institutional investors.

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.