Mesoblast (NASDAQ:MESO) Stock Price Down 8.5% – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO) shares dropped 8.5% during mid-day trading on Monday . The stock traded as low as $14.44 and last traded at $14.50. Approximately 166,270 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 211,650 shares. The stock had previously closed at $15.85.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Mesoblast Stock Down 8.6%

The firm’s fifty day moving average is $17.86 and its 200 day moving average is $16.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.77 and a current ratio of 1.99. The firm has a market cap of $1.87 billion, a P/E ratio of -16.51 and a beta of 2.15.

Mesoblast (NASDAQ:MESO) last released its quarterly earnings results on Thursday, January 29th. The company reported ($0.16) earnings per share for the quarter. The company had revenue of $25.67 million during the quarter. As a group, equities research analysts anticipate that Mesoblast Limited will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of Mesoblast

Several large investors have recently bought and sold shares of MESO. Goldman Sachs Group Inc. acquired a new stake in shares of Mesoblast during the 1st quarter valued at $3,209,000. Summit X LLC raised its stake in Mesoblast by 0.6% during the second quarter. Summit X LLC now owns 199,295 shares of the company’s stock worth $2,170,000 after buying an additional 1,132 shares during the last quarter. Creative Planning bought a new stake in shares of Mesoblast during the 2nd quarter valued at about $141,000. Raymond James Financial Inc. bought a new stake in shares of Mesoblast in the 2nd quarter valued at $86,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Mesoblast by 33.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 9,124 shares of the company’s stock worth $99,000 after purchasing an additional 2,302 shares in the last quarter. 1.43% of the stock is owned by institutional investors and hedge funds.

Mesoblast Company Profile

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.