Mesoblast limited (NASDAQ:MESO) Sees Large Growth in Short Interest

Mesoblast limited (NASDAQ:MESO) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,140,000 shares, an increase of 18.0% from the September 15th total of 2,660,000 shares. Based on an average daily volume of 1,150,000 shares, the short-interest ratio is presently 2.7 days.

A number of institutional investors and hedge funds have recently made changes to their positions in MESO. Morgan Stanley lifted its holdings in Mesoblast by 93.4% during the 1st quarter. Morgan Stanley now owns 74,069 shares of the company’s stock worth $324,000 after buying an additional 35,777 shares during the period. SG Americas Securities LLC acquired a new position in Mesoblast during the 2nd quarter worth about $114,000. UBS Group AG acquired a new position in shares of Mesoblast in the 2nd quarter valued at about $40,000. Princeton Capital Management LLC lifted its stake in shares of Mesoblast by 15.6% in the 2nd quarter. Princeton Capital Management LLC now owns 138,523 shares of the company’s stock valued at $1,578,000 after purchasing an additional 18,724 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Mesoblast by 8.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,788 shares of the company’s stock valued at $145,000 after purchasing an additional 1,000 shares during the period. 2.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MESO opened at $11.24 on Thursday. The company has a market capitalization of $1.32 billion, a PE ratio of -15.40 and a beta of 3.60. Mesoblast has a 12 month low of $3.12 and a 12 month high of $21.28. The stock’s 50-day moving average price is $15.36 and its two-hundred day moving average price is $13.15. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.12.

Mesoblast (NASDAQ:MESO) last announced its earnings results on Wednesday, August 26th. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.18). The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $13.43 million. Mesoblast had a negative return on equity of 15.49% and a negative net margin of 242.38%. Equities research analysts predict that Mesoblast will post -0.3 EPS for the current fiscal year.

Several brokerages have recently issued reports on MESO. HC Wainwright decreased their price target on Mesoblast from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. ValuEngine upgraded Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 27th. Zacks Investment Research lowered Mesoblast from a “buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, Maxim Group reduced their price objective on Mesoblast from $22.00 to $18.00 in a research report on Monday, October 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $18.54.

Mesoblast Company Profile

Mesoblast Limited, a biopharmaceutical company, develops and commercializes allogeneic cellular medicines. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage adult stem cells. The company's products under the Phase III clinical trials include MSC-100-IV for steroid refractory acute graft versus host disease; MPC-150-IM for advanced heart failure; and MPC-06-ID for chronic low back pain due to degenerative disc disease.

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