Mesoblast (NASDAQ:MESO) Sees Strong Trading Volume After Analyst Upgrade

Mesoblast Limited (NASDAQ:MESO) shares saw unusually-high trading volume on Thursday after Piper Sandler raised their price target on the stock from $11.00 to $15.00. Piper Sandler currently has an overweight rating on the stock. Approximately 1,283,734 shares traded hands during trading, an increase of 78% from the previous session’s volume of 722,881 shares.The stock last traded at $15.00 and had previously closed at $12.25.

MESO has been the subject of several other research reports. StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research note on Thursday, August 29th. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Finally, Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Mesoblast has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Institutional Trading of Mesoblast

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in shares of 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 in the last quarter. Perkins Coie Trust Co lifted its stake in shares of Mesoblast by 15.0% during the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after purchasing an additional 1,500 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Mesoblast in the 2nd quarter valued at about $80,000. Rathbones Group PLC bought a new position in shares of Mesoblast during the 2nd quarter worth approximately $95,000. Finally, XTX Topco Ltd purchased a new stake in Mesoblast during the second quarter valued at approximately $103,000. 1.43% of the stock is currently owned by institutional investors.

Mesoblast Stock Down 12.7 %

The business’s 50 day moving average is $10.48 and its 200 day moving average is $8.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

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.