Mesoblast Limited (NASDAQ:MESO) Short Interest Down 18.9% in July

Mesoblast Limited (NASDAQ:MESO) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 373,300 shares, a decline of 18.9% from the June 30th total of 460,500 shares. Based on an average daily trading volume, of 219,200 shares, the short-interest ratio is presently 1.7 days.

Institutional Investors Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently modified their holdings of MESO. Chase Investment Counsel Corp acquired a new stake in shares of Mesoblast during the first quarter worth $298,000. GAMMA Investing LLC raised its holdings in Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after buying an additional 1,663 shares during the period. Perkins Coie Trust Co purchased a new stake in Mesoblast during the second quarter valued at about $68,000. Finally, Chapin Davis Inc. boosted its holdings 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 buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Stock Performance

NASDAQ MESO traded down $0.02 on Friday, reaching $7.40. The company’s stock had a trading volume of 89,252 shares, compared to its average volume of 216,542. The stock has a market cap of $844.92 million, a PE ratio of -6.61 and a beta of 3.48. Mesoblast has a twelve month low of $1.61 and a twelve month high of $8.66. The firm’s 50 day moving average is $7.41 and its two-hundred day moving average is $5.07.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research note on Thursday, June 20th. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Piper Sandler upgraded Mesoblast from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.00 to $11.00 in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.00.

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.