Mesoblast (NASDAQ:MESO) Shares Up 6.2% – Still a Buy?

Mesoblast Limited (NASDAQ:MESO) shares traded up 6.2% on Tuesday . The stock traded as high as $12.63 and last traded at $12.59. 81,641 shares were traded during trading, a decline of 70% from the average session volume of 269,682 shares. The stock had previously closed at $11.85.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mesoblast has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Mesoblast Trading Up 7.4%

The firm’s 50-day moving average price is $11.10 and its 200-day moving average price is $14.03. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Trading of Mesoblast

Several hedge funds have recently bought and sold shares of MESO. Barclays PLC purchased a new position in Mesoblast during the 4th quarter valued at approximately $38,000. Lindbrook Capital LLC increased its position in Mesoblast by 70.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock worth $43,000 after purchasing an additional 901 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Mesoblast during the 4th quarter valued at about $50,000. BNP Paribas Financial Markets boosted its stake in shares of Mesoblast by 86,566.7% during the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock worth $51,000 after purchasing an additional 2,597 shares during the period. Finally, Advisors Preferred LLC boosted its position in shares of Mesoblast by 224.9% during the first quarter. Advisors Preferred LLC now owns 4,578 shares of the company’s stock valued at $54,000 after buying an additional 3,169 shares during the period. 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.