Mesoblast (NASDAQ:MESO) Shares Up 4.8% – Time to Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) rose 4.8% on Wednesday . The company traded as high as $19.50 and last traded at $19.19. Approximately 74,293 shares were traded during trading, a decline of 84% from the average daily volume of 471,268 shares. The stock had previously closed at $18.32.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler boosted their target price on shares of Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group cut shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Mesoblast has an average rating of “Hold” and a consensus target price of $13.50.

Mesoblast Stock Up 5.7 %

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $15.10 and its two-hundred day simple moving average is $10.37.

Hedge Funds Weigh In On Mesoblast

A number of hedge funds have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in Mesoblast during the 4th quarter worth approximately $30,000. Signaturefd LLC boosted its position in Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after purchasing an additional 3,099 shares during the period. Perkins Coie Trust Co increased its holdings in Mesoblast by 15.0% in the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after purchasing an additional 1,500 shares in the last quarter. XTX Topco Ltd purchased a new position in Mesoblast in the second quarter valued at about $103,000. Finally, GAMMA Investing LLC lifted its stake in shares of Mesoblast by 22.1% during the fourth quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock worth $133,000 after purchasing an additional 1,213 shares in the last quarter. Institutional investors and hedge funds 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.