Mesoblast (NASDAQ:MESO) Trading Down 4.8% – Time to Sell?

Mesoblast Limited (NASDAQ:MESO)’s share price fell 4.8% on Wednesday . The stock traded as low as $10.10 and last traded at $10.30. 44,977 shares were traded during trading, a decline of 94% from the average session volume of 759,654 shares. The stock had previously closed at $10.82.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $4.00 to $11.00 in a report on Tuesday, July 23rd. Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, September 24th. Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Finally, StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Mesoblast presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Mesoblast Stock Performance

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 firm’s fifty day moving average is $8.73 and its 200-day moving average is $7.64.

Institutional Investors Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently made changes to their positions in MESO. GAMMA Investing LLC grew its holdings in Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after acquiring an additional 1,663 shares during the last quarter. Marshall Wace LLP bought a new stake in Mesoblast during the 2nd quarter worth approximately $562,000. Chapin Davis Inc. grew its holdings in Mesoblast by 50.0% during 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 during the last quarter. Rathbones Group PLC bought a new stake in Mesoblast during the 2nd quarter worth approximately $95,000. Finally, Signaturefd LLC grew its holdings in Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after acquiring an additional 3,099 shares during the last quarter. 1.43% of the stock is owned by 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.