Mesoblast (NASDAQ:MESO) Trading 2.9% Higher – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s stock price shot up 2.9% during trading on Monday . The stock traded as high as $12.49 and last traded at $12.47. 95,243 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 383,352 shares. The stock had previously closed at $12.11.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $24.00 price target (up from $15.00) on shares of Mesoblast in a research note on Friday, February 7th. Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald raised Mesoblast to a “strong-buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Mesoblast presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Mesoblast Price Performance

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $16.31 and a 200-day moving average price of $13.21.

Institutional Trading of Mesoblast

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC grew its stake in Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after buying an additional 26,959 shares during the last quarter. GAMMA Investing LLC increased its stake in Mesoblast by 22.1% in the fourth quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock valued at $133,000 after purchasing an additional 1,213 shares in the last quarter. Ballentine Partners LLC bought a new position in Mesoblast during the fourth quarter worth about $222,000. R Squared Ltd acquired a new stake in shares of Mesoblast during the fourth quarter worth $30,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Mesoblast during the fourth quarter worth about $134,000. 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.