Mesoblast (NASDAQ:MESO) Trading Down 3.4% – What’s Next?

Mesoblast Limited (NASDAQ:MESO)’s share price dropped 3.4% during trading on Tuesday . The company traded as low as $18.10 and last traded at $18.32. Approximately 102,181 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 360,621 shares. The stock had previously closed at $18.96.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Piper Sandler increased their target price on Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Maxim Group raised shares of 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 research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mesoblast has a consensus rating of “Hold” and a consensus price target of $13.50.

Mesoblast Trading Down 4.0 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a 50 day moving average price of $12.73 and a 200-day moving average price of $9.27.

Institutional Investors Weigh In On Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in shares of Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after buying an additional 3,099 shares in the last quarter. Perkins Coie Trust Co raised its holdings 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 acquiring an additional 1,500 shares during the last quarter. Rathbones Group PLC purchased a new position in Mesoblast in the 2nd quarter worth approximately $95,000. XTX Topco Ltd acquired a new position in shares of Mesoblast during the 2nd quarter worth approximately $103,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Mesoblast by 22.1% during the 4th quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock worth $133,000 after purchasing an additional 1,213 shares during the last quarter. 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.