Mesoblast (NASDAQ:MESO) Trading Down 7% – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s share price was down 7% on Friday . The stock traded as low as $12.50 and last traded at $12.37. Approximately 32,555 shares traded hands during trading, a decline of 93% from the average daily volume of 437,548 shares. The stock had previously closed at $13.30.

Wall Street Analysts Forecast Growth

MESO has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $24.00 target price (up from $15.00) on shares of Mesoblast in a report on Friday, February 7th. Cantor Fitzgerald upgraded Mesoblast to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Mesoblast has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Mesoblast Trading Down 8.9 %

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $16.31 and its 200 day moving average is $13.16.

Institutional Trading of Mesoblast

Several hedge funds and other institutional investors have recently bought and sold shares of MESO. Strategic Financial Concepts LLC bought a new position in shares of Mesoblast during the fourth quarter worth approximately $2,744,000. Jane Street Group LLC grew its position in Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after buying an additional 26,959 shares in the last quarter. Clayton Financial Group LLC bought a new position in Mesoblast during the 4th quarter worth $275,000. Ballentine Partners LLC acquired a new position in Mesoblast in the 4th quarter valued at $222,000. Finally, Lindbrook Capital LLC lifted its position in shares of Mesoblast by 70.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock valued at $43,000 after acquiring an additional 901 shares during the period. 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.