Mesoblast (NASDAQ:MESO) Trading Up 4.8% – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Jefferies Financial Group cut 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 assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Mesoblast currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Mesoblast Price Performance

The company’s 50 day simple moving average is $15.10 and its 200 day simple moving average is $10.37. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Institutional Investors Weigh In On Mesoblast

A number of large investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Mesoblast during the 4th quarter worth approximately $30,000. Signaturefd LLC lifted its position in Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after acquiring an additional 3,099 shares during the last quarter. Perkins Coie Trust Co boosted its stake in 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 in the last quarter. XTX Topco Ltd purchased a new position in shares of Mesoblast during the second quarter worth about $103,000. Finally, GAMMA Investing LLC increased its position 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. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.