Mesoblast (NASDAQ:MESO) Shares Down 3.5%

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Piper Sandler upgraded shares of Mesoblast from a “neutral” rating to an “overweight” rating and upped their price target for the company from $4.00 to $11.00 in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a 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 issued a buy rating to the company. According to data from MarketBeat.com, Mesoblast currently has an average rating of “Hold” and a consensus target price of $16.00.

Mesoblast Stock Down 4.4 %

The company’s fifty day moving average price is $7.39 and its two-hundred day moving average price is $5.10. The company has a market cap of $741.03 million, a price-to-earnings ratio of -6.06 and a beta of 3.48.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MESO. Chase Investment Counsel Corp acquired a new position in Mesoblast during the first quarter worth $298,000. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 1,663 shares during the last quarter. Perkins Coie Trust Co acquired a new position in Mesoblast during the second quarter worth $68,000. Finally, Chapin Davis Inc. boosted its holdings in Mesoblast by 50.0% during the second 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. Institutional investors and hedge funds 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.