Mesoblast (NASDAQ:MESO) Trading Up 6.4%

Mesoblast Limited (NASDAQ:MESO)’s stock price shot up 6.4% during trading on Friday . The company traded as high as $6.82 and last traded at $6.82. 9,514 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 889,149 shares. The stock had previously closed at $6.41.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MESO shares. Jefferies Financial Group raised Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $4.00 to $11.00 in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Finally, StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

Mesoblast Price Performance

The firm has a market capitalization of $769.56 million, a P/E ratio of -6.09 and a beta of 3.47. The business’s fifty day moving average is $6.64 and its 200 day moving average is $6.23. 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 Trading of Mesoblast

Several hedge funds and other institutional investors have recently modified their holdings of MESO. GAMMA Investing LLC grew its position in 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 purchasing an additional 1,663 shares in the last quarter. Perkins Coie Trust Co acquired a new position in Mesoblast in the second quarter worth approximately $68,000. Pine Valley Investments Ltd Liability Co acquired a new position in shares of Mesoblast during the 2nd quarter worth $80,000. Rathbones Group PLC bought a new position in shares of Mesoblast during the 2nd quarter valued at $95,000. Finally, Chapin Davis Inc. lifted its stake in shares of Mesoblast by 50.0% in the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

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.