Mesoblast (NASDAQ:MESO) Stock Price Down 3.5% – Here’s What Happened

Shares of Mesoblast Limited (NASDAQ:MESO) fell 3.5% on Wednesday . The stock traded as low as $9.20 and last traded at $9.22. 115,360 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 846,832 shares. The stock had previously closed at $9.55.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $4.00 to $11.00 in a report on Tuesday, July 23rd. 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, Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mesoblast has an average rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Stock Down 3.8 %

The stock has a market capitalization of $1.05 billion, a P/E ratio of -8.34 and a beta of 3.47. The stock’s fifty day moving average is $6.86 and its two-hundred day moving average is $6.84. 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 Trading of Mesoblast

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised 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 valued at $34,000 after acquiring an additional 1,663 shares during the period. Chapin Davis Inc. grew its position in Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after purchasing an additional 5,000 shares in the last quarter. Rathbones Group PLC acquired a new stake in Mesoblast during the 2nd quarter valued at $95,000. Lazari Capital Management Inc. lifted its holdings in shares of Mesoblast by 6.6% in the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock valued at $364,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Perkins Coie Trust Co boosted its position in shares of Mesoblast by 15.0% in the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after buying an additional 1,500 shares during the period. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.