Mesoblast (NASDAQ:MESO) Shares Down 5.7% – What’s Next?

Mesoblast Limited (NASDAQ:MESO)’s share price was down 5.7% on Thursday . The stock traded as low as $13.65 and last traded at $13.97. Approximately 22,031 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 789,017 shares. The stock had previously closed at $14.82.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MESO shares. Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $24.00 price objective (up previously from $15.00) on shares of Mesoblast in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Mesoblast has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Mesoblast Stock Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The firm’s 50 day simple moving average is $17.94 and its 200-day simple moving average is $12.33.

Hedge Funds Weigh In On Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in MESO. R Squared Ltd acquired a new position in Mesoblast during the 4th quarter worth approximately $30,000. Barclays PLC acquired a new position in Mesoblast during the 4th quarter worth approximately $38,000. Lindbrook Capital LLC grew its holdings in shares of Mesoblast by 70.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock worth $43,000 after acquiring an additional 901 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Mesoblast in the 4th quarter worth approximately $50,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Mesoblast by 86,566.7% in the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock worth $51,000 after acquiring an additional 2,597 shares during the period. Institutional investors and hedge funds own 1.43% of the company’s stock.

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.