Mesoblast (NASDAQ:MESO) Stock Price Down 3.7% – What’s Next?

Mesoblast Limited (NASDAQ:MESO)’s stock price fell 3.7% during mid-day trading on Friday . The company traded as low as $7.09 and last traded at $8.07. 91,393 shares changed hands during trading, a decline of 88% from the average session volume of 790,984 shares. The stock had previously closed at $8.38.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MESO. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Piper Sandler upgraded Mesoblast from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Finally, Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Mesoblast Price Performance

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 business has a 50-day simple moving average of $7.92 and a 200 day simple moving average of $7.32.

Institutional Trading of Mesoblast

Several institutional investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new stake in shares of Mesoblast during the second quarter worth about $562,000. Chase Investment Counsel Corp purchased a new stake in shares of Mesoblast during the first quarter worth about $298,000. Lazari Capital Management Inc. grew its position in shares of Mesoblast by 6.6% during the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after purchasing an additional 3,300 shares in the last quarter. XY Capital Ltd purchased a new stake in shares of Mesoblast during the third quarter worth about $244,000. Finally, Creative Planning purchased a new stake in shares of Mesoblast during the third quarter worth about $147,000. Hedge funds and other 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.