Mesoblast (NASDAQ:MESO) Stock Price Down 3.7% – Should You Sell?

Mesoblast Limited (NASDAQ:MESO)’s share price traded down 3.7% during trading on Friday . The stock traded as low as $7.09 and last traded at $8.07. 91,393 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 790,984 shares. The stock had previously closed at $8.38.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $4.00 to $11.00 in a research note on Tuesday, July 23rd. Jefferies Financial Group raised Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Maxim Group raised Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, September 24th. Finally, StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Price Performance

The firm has a fifty day simple moving average of $7.88 and a two-hundred day simple moving average of $7.29. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Mesoblast

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Mesoblast by 128.7% during the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after purchasing an additional 3,099 shares during the period. Creative Planning purchased a new stake in shares of Mesoblast during the third quarter worth $147,000. Perkins Coie Trust Co lifted its position in shares of Mesoblast by 15.0% during the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after acquiring an additional 1,500 shares in the last quarter. Lazari Capital Management Inc. lifted its position in shares of Mesoblast by 6.6% during the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Mesoblast during the second quarter worth $562,000. 1.43% of the stock is owned by 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.