Mesoblast (NASDAQ:MESO) Sees Strong Trading Volume – Should You Buy?

Mesoblast Limited (NASDAQ:MESO) saw strong trading volume on Friday . 419,400 shares were traded during mid-day trading, a decline of 21% from the previous session’s volume of 532,140 shares.The stock last traded at $17.18 and had previously closed at $17.90.

Analyst Ratings Changes

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

Mesoblast Trading Down 4.0 %

The business’s 50 day simple moving average is $13.07 and its 200 day simple moving average is $9.38. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings in Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after purchasing an additional 3,099 shares during the last quarter. Perkins Coie Trust Co lifted its stake in Mesoblast by 15.0% during the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after purchasing an additional 1,500 shares during the last quarter. Rathbones Group PLC acquired a new position in Mesoblast during the second quarter worth about $95,000. XTX Topco Ltd acquired a new position in shares of Mesoblast in the 2nd quarter valued at $103,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Mesoblast by 22.1% in the 4th quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock valued at $133,000 after buying an additional 1,213 shares during the period. 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.