Mesoblast (NASDAQ:MESO) Trading Down 5.7% – What’s Next?

Mesoblast Limited (NASDAQ:MESO)’s share price fell 5.7% during trading on Friday . The stock traded as low as $17.16 and last traded at $17.25. 88,059 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 738,610 shares. The stock had previously closed at $18.29.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MESO shares. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Piper Sandler raised their price objective on Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Maxim Group raised Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Mesoblast presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Mesoblast Trading Down 4.6 %

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $11.09 and a two-hundred day simple moving average of $8.57.

Hedge Funds Weigh In On Mesoblast

A number of large investors have recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Mesoblast by 128.7% during the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after purchasing an additional 3,099 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Mesoblast during the 2nd quarter worth approximately $80,000. Perkins Coie Trust Co lifted its holdings in shares of Mesoblast by 15.0% in the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after buying an additional 1,500 shares during the period. Rathbones Group PLC acquired a new stake in shares of Mesoblast in the 2nd quarter valued at approximately $95,000. Finally, XTX Topco Ltd purchased a new position in shares of Mesoblast in the 2nd quarter valued at about $103,000. Hedge funds and other 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.