Mesoblast (NASDAQ:MESO) Stock Price Up 2.9% – Should You Buy?

Mesoblast Limited (NASDAQ:MESO) shares rose 2.9% on Monday . The stock traded as high as $12.49 and last traded at $12.47. Approximately 95,243 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 383,352 shares. The stock had previously closed at $12.11.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $24.00 target price (up from $15.00) on shares of Mesoblast in a research report on Friday, February 7th. Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

Mesoblast Stock Down 4.6 %

The stock has a fifty day moving average of $16.09 and a 200-day moving average of $13.29. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MESO. R Squared Ltd acquired a new position in shares of Mesoblast during the 4th quarter worth about $30,000. Barclays PLC bought a new stake in Mesoblast during the fourth quarter worth about $38,000. Lindbrook Capital LLC boosted its position in Mesoblast by 70.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock valued at $43,000 after purchasing an additional 901 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Mesoblast in the fourth quarter valued at approximately $50,000. Finally, BNP Paribas Financial Markets increased its position in shares of Mesoblast by 86,566.7% during the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock worth $51,000 after purchasing an additional 2,597 shares during the last quarter. Institutional investors 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.