Mesoblast (NASDAQ:MESO) Trading Down 3.4% – Here’s Why

Mesoblast Limited (NASDAQ:MESO) was down 3.4% during mid-day trading on Tuesday . The company traded as low as $18.10 and last traded at $18.32. Approximately 102,181 shares changed hands 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 Analysts Forecast Growth

Several research firms have recently commented on MESO. Maxim Group raised Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, September 24th. Jefferies Financial Group cut shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. Finally, Piper Sandler boosted their target price on shares of Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Mesoblast currently has a consensus rating of “Hold” and an average target price of $13.50.

Mesoblast Price Performance

The firm’s fifty day moving average is $12.55 and its two-hundred day moving average is $9.20. 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

A number of institutional investors have recently added to or reduced their stakes in MESO. Signaturefd LLC lifted its holdings in shares of Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after buying an additional 3,099 shares during the period. GAMMA Investing LLC raised its position in Mesoblast by 22.1% in the fourth quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock worth $133,000 after acquiring an additional 1,213 shares in the last quarter. Perkins Coie Trust Co lifted 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 bought a new position in shares of Mesoblast during the 2nd quarter valued at about $95,000. Finally, XTX Topco Ltd acquired a new position in shares of Mesoblast in the 2nd quarter worth approximately $103,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.