Mesoblast (NASDAQ:MESO) Reaches New 1-Year High – Still a Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) reached a new 52-week high on Wednesday . The stock traded as high as $11.29 and last traded at $11.05, with a volume of 151395 shares trading hands. The stock had previously closed at $9.95.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. 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 note 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 report on Wednesday, September 4th. Jefferies Financial Group raised Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Finally, Maxim Group raised Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Trading Down 3.3 %

The stock has a 50-day simple moving average of $8.47 and a 200-day simple moving average of $7.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of Mesoblast by 50.1% in the 2nd 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 last quarter. Marshall Wace LLP bought a new position in Mesoblast during the 2nd quarter worth $562,000. Chapin Davis Inc. grew its stake in shares of Mesoblast by 50.0% in the second 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 shares of Mesoblast in the second quarter valued at $95,000. Finally, 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. 1.43% of the stock is 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.