Mesoblast (NASDAQ:MESO) Stock Price Down 5.3% – Here’s Why

Mesoblast Limited (NASDAQ:MESO) shares fell 5.3% on Wednesday . The stock traded as low as $11.21 and last traded at $11.32. 102,855 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 739,179 shares. The stock had previously closed at $11.95.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MESO. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, September 24th. Finally, StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Price Performance

The business has a 50 day moving average of $9.66 and a 200 day moving average of $7.91. 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 Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Mesoblast by 50.1% in the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock valued at $34,000 after buying an additional 1,663 shares in the last quarter. Signaturefd LLC increased its stake 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 in the last quarter. Perkins Coie Trust Co acquired a new stake in shares of Mesoblast in the second quarter valued at $68,000. Pine Valley Investments Ltd Liability Co bought a new position in Mesoblast in the second quarter valued at about $80,000. Finally, Rathbones Group PLC bought a new position in Mesoblast in the second quarter valued at about $95,000. 1.43% of the stock is currently 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.