Mesoblast (NASDAQ:MESO) Shares Down 7% – Should You Sell?

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

Analyst Upgrades and Downgrades

MESO has been the subject of several research analyst reports. Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a research report on Tuesday, March 4th. Piper Sandler reissued an “overweight” rating and set a $24.00 price target (up previously from $15.00) on shares of Mesoblast in a report on Friday, February 7th. Finally, Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mesoblast has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Mesoblast Trading Down 8.9 %

The business’s 50-day simple moving average is $16.31 and its two-hundred day simple moving average is $13.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Institutional Investors Weigh In On Mesoblast

Several hedge funds have recently modified their holdings of MESO. Strategic Financial Concepts LLC bought a new position in Mesoblast in the fourth quarter valued at about $2,744,000. Jane Street Group LLC increased its stake in shares of 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 buying an additional 26,959 shares during the period. Clayton Financial Group LLC bought a new position in Mesoblast in the 4th quarter valued at approximately $275,000. Ballentine Partners LLC acquired a new stake in Mesoblast during the 4th quarter worth approximately $222,000. Finally, Lindbrook Capital LLC grew its holdings in 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 acquiring an additional 901 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.