Mesoblast (NASDAQ:MESO) Trading Down 2.2% – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s stock price traded down 2.2% on Wednesday . The company traded as low as $16.53 and last traded at $16.61. 24,805 shares changed hands during trading, a decline of 96% from the average session volume of 571,121 shares. The stock had previously closed at $16.98.

Analyst Ratings Changes

A number of brokerages recently issued reports on MESO. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, September 24th. Piper Sandler raised their price objective on shares of Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.50.

Mesoblast Stock Up 1.0 %

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $13.59 and a 200-day moving average of $9.64.

Institutional Trading of Mesoblast

Several institutional investors have recently made changes to their positions in MESO. Signaturefd LLC boosted 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 during the last quarter. Perkins Coie Trust Co grew its holdings in shares of Mesoblast by 15.0% in the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after acquiring an additional 1,500 shares in the last quarter. Rathbones Group PLC purchased a new stake in shares of Mesoblast during the second quarter valued at approximately $95,000. XTX Topco Ltd bought a new stake in Mesoblast during the second quarter worth $103,000. Finally, GAMMA Investing LLC boosted its position in Mesoblast by 22.1% in the fourth quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock worth $133,000 after purchasing an additional 1,213 shares during the last quarter. 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.