Mesoblast (NASDAQ:MESO) Shares Down 5.7% – What’s Next?

Mesoblast Limited (NASDAQ:MESO)’s share price traded down 5.7% during mid-day trading on Thursday . The stock traded as low as $13.65 and last traded at $13.97. 22,031 shares traded hands during trading, a decline of 97% from the average session volume of 789,017 shares. The stock had previously closed at $14.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $24.00 target price (up from $15.00) on shares of Mesoblast in a research report on Friday, February 7th. Cantor Fitzgerald raised shares of Mesoblast to a “strong-buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Mesoblast Trading Down 1.5 %

The firm’s 50 day simple moving average is $17.85 and its 200 day simple moving average is $12.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MESO. Bank of America Corp DE increased its stake in shares of Mesoblast by 1,503.3% in the fourth quarter. Bank of America Corp DE now owns 290,728 shares of the company’s stock worth $5,756,000 after buying an additional 272,595 shares during the period. Oaktree Capital Management LP purchased a new position in shares of Mesoblast in the fourth quarter worth $3,556,000. Strategic Financial Concepts LLC purchased a new position in shares of Mesoblast in the fourth quarter worth $2,744,000. Oaktree Fund Advisors LLC purchased a new position in shares of Mesoblast in the fourth quarter worth $949,000. Finally, XY Capital Ltd purchased a new position in shares of Mesoblast in the third quarter worth $244,000. 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.