Mesoblast (NASDAQ:MESO) Trading Up 7.3%

Shares of Mesoblast Limited (NASDAQ:MESO) traded up 7.3% on Tuesday . The stock traded as high as $8.47 and last traded at $8.10. 207,907 shares changed hands during trading, a decline of 81% from the average session volume of 1,112,417 shares. The stock had previously closed at $7.55.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler upgraded Mesoblast from a “neutral” rating to an “overweight” rating and increased their target price for the company from $4.00 to $11.00 in a report on Tuesday. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Mesoblast Stock Performance

The business has a 50-day simple moving average of $7.38 and a 200 day simple moving average of $4.93. The firm has a market cap of $862.06 million, a P/E ratio of -7.10 and a beta of 3.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MESO. GAMMA Investing LLC raised its position in Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock valued at $34,000 after purchasing an additional 1,663 shares during the last quarter. Perkins Coie Trust Co bought a new position in shares of Mesoblast in the 2nd quarter worth approximately $68,000. Chapin Davis Inc. raised its position in shares of 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 acquiring an additional 5,000 shares in the last quarter. Finally, Chase Investment Counsel Corp bought a new position in shares of Mesoblast in the 1st quarter worth approximately $298,000. Institutional investors 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.