Mesoblast (NASDAQ:MESO) Sets New 1-Year Low – Here’s Why

Shares of Mesoblast Limited (NASDAQ:MESO) hit a new 52-week low during trading on Friday. The company traded as low as $12.94 and last traded at $13.21, with a volume of 409,501 shares traded. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

Several research analysts recently commented on MESO shares. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a report on Thursday, September 24th. Weiss Ratings raised shares of Mesoblast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $39.00 price target (up from $35.00) on shares of Mesoblast in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $39.00.

Mesoblast Trading Down 4.8%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.09 and a current ratio of 2.43. The company has a 50-day simple moving average of $15.65 and a two-hundred day simple moving average of $15.23.

Mesoblast (NASDAQ:MESO) last released its quarterly earnings data on Friday, July 31st. The company reported ($0.07) EPS for the quarter. The firm had revenue of $34.45 million during the quarter. Research analysts forecast that Mesoblast Limited will post -0.05 EPS for the current fiscal year.

Institutional Trading of Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Mesoblast by 608.4% in the first quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock valued at $1,538,000 after acquiring an additional 85,888 shares during the last quarter. Royal Bank of Canada grew its position in shares of Mesoblast by 22.5% in the 1st quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock valued at $404,000 after acquiring an additional 4,827 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Mesoblast in the 4th quarter valued at about $32,000. Finally, GAMMA Investing LLC increased its stake in shares of Mesoblast by 14.1% during the 2nd quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock worth $100,000 after purchasing an additional 916 shares during the last quarter. 1.43% of the stock is owned by institutional investors.

About Mesoblast

Mesoblast Limited is a regenerative medicine company that develops and commercializes cellular medicines for serious inflammatory and immune-mediated conditions. The company’s platform is based primarily on specialized allogeneic mesenchymal lineage precursor cells, which are obtained from healthy adult donors and developed for use without patient-specific matching.

Mesoblast’s lead commercial product, Ryoncil (remestemcel-L), is an off-the-shelf cell therapy approved in the United States for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients.