Mesoblast (NASDAQ:MESO) Rating Lowered to Sell at StockNews.com

Mesoblast (NASDAQ:MESO) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Several other brokerages have also recently issued reports on MESO. Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Jefferies Financial Group raised Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th.

Mesoblast Price Performance

Mesoblast stock opened at $6.41 on Wednesday. Mesoblast has a one year low of $1.61 and a one year high of $8.66. The stock has a market capitalization of $731.88 million, a PE ratio of -5.72 and a beta of 3.48. The business’s fifty day moving average is $6.84 and its 200 day moving average is $5.94.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in shares of Mesoblast during the 2nd quarter valued at about $562,000. Chase Investment Counsel Corp purchased a new position in shares of Mesoblast during the 1st quarter valued at about $298,000. XTX Topco Ltd purchased a new position in shares of Mesoblast during the 2nd quarter valued at about $103,000. Chapin Davis Inc. lifted its position in shares of Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after buying an additional 5,000 shares in the last quarter. Finally, Rathbones Group PLC purchased a new position in shares of Mesoblast during the 2nd quarter valued at about $95,000. 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.