Mesoblast (NASDAQ:MESO) Stock Price Down 7.9%

Mesoblast Limited (NASDAQ:MESO) traded down 7.9% during trading on Wednesday . The stock traded as low as $7.24 and last traded at $7.33. 129,080 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,648,139 shares. The stock had previously closed at $7.96.

Analyst Upgrades and Downgrades

MESO has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Friday, January 12th. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday. Two equities research 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. According to data from MarketBeat, Mesoblast presently has an average rating of “Hold” and a consensus target price of $13.67.

Mesoblast Stock Performance

The business’s 50-day moving average is $4.75 and its 200 day moving average is $3.05. The company has a market cap of $831.22 million, a PE ratio of -6.40 and a beta of 3.45.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Prosperity Wealth Management Inc. bought a new stake in Mesoblast in the third quarter valued at $79,000. Lazari Capital Management Inc. raised its holdings in Mesoblast by 9.3% in the 3rd quarter. Lazari Capital Management Inc. now owns 94,034 shares of the company’s stock worth $116,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Chase Investment Counsel Corp bought a new position in Mesoblast in the 1st quarter valued at approximately $298,000. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.