Mesoblast (NASDAQ:MESO) Shares Up 7.9%

Shares of Mesoblast Limited (NASDAQ:MESO) shot up 7.9% on Wednesday . The stock traded as high as $5.16 and last traded at $5.06. 196,286 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,913,120 shares. The stock had previously closed at $4.69.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MESO. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Friday, January 12th. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Mesoblast currently has an average rating of “Hold” and an average price target of $13.67.

Mesoblast Price Performance

The business has a fifty day simple moving average of $3.32 and a 200 day simple moving average of $2.59.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. EWA LLC purchased a new position in shares of Mesoblast in the first quarter valued at $40,000. State Street Corp purchased a new position in shares of Mesoblast in the first quarter valued at $757,000. BlackRock Inc. grew its holdings in Mesoblast by 52.2% in the 1st quarter. BlackRock Inc. now owns 83,464 shares of the company’s stock valued at $275,000 after buying an additional 28,638 shares during the period. Jane Street Group LLC purchased a new stake in Mesoblast in the 4th quarter valued at about $187,000. Finally, Millennium Management LLC acquired a new position in shares of Mesoblast in the 4th quarter valued at about $344,000. 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.