Mesoblast (NASDAQ:MESO) Stock Price Down 3.5%

Mesoblast Limited (NASDAQ:MESO)’s share price was down 3.5% on Tuesday . The company traded as low as $6.55 and last traded at $6.55. Approximately 19,195 shares traded hands during trading, a decline of 98% from the average daily volume of 1,084,684 shares. The stock had previously closed at $6.79.

Analyst Ratings Changes

MESO has been the subject of a number of analyst reports. Piper Sandler raised shares of 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 report on Tuesday, July 23rd. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research report on Thursday, June 20th. 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 data from MarketBeat.com, Mesoblast has a consensus rating of “Hold” and a consensus price target of $16.00.

Mesoblast Stock Performance

The firm has a market cap of $718.19 million, a price-to-earnings ratio of -5.74 and a beta of 3.48. The business’s 50 day moving average price is $7.34 and its 200-day moving average price is $5.14.

Institutional Investors Weigh In On Mesoblast

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after acquiring an additional 1,663 shares during the period. Perkins Coie Trust Co acquired a new stake in Mesoblast during the second quarter worth about $68,000. Pine Valley Investments Ltd Liability Co bought a new position in Mesoblast in the 2nd quarter worth about $80,000. Chapin Davis Inc. grew its position in Mesoblast by 50.0% in the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Chase Investment Counsel Corp bought a new position in Mesoblast in the 1st quarter worth about $298,000. 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.