Mesoblast (NASDAQ:MESO) Trading Down 5.3% – Here’s Why

Mesoblast Limited (NASDAQ:MESO) shares fell 5.3% on Wednesday . The company traded as low as $11.21 and last traded at $11.32. 102,855 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 739,179 shares. The stock had previously closed at $11.95.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MESO. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, September 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Finally, Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Mesoblast Price Performance

The company has a 50 day moving average of $9.66 and a 200 day moving average of $7.91. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Mesoblast

Large investors have recently made changes to their positions in the company. Jane Street Group LLC boosted 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 purchasing an additional 26,959 shares during the period. XY Capital Ltd bought a new stake in Mesoblast during the third quarter worth approximately $244,000. Signaturefd LLC boosted its position in Mesoblast by 128.7% during the third 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. Creative Planning bought a new stake in shares of Mesoblast in the third quarter valued at approximately $147,000. Finally, Perkins Coie Trust Co boosted its position in shares of Mesoblast by 15.0% in the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after acquiring an additional 1,500 shares during the period. Institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

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.