Mesoblast (NASDAQ:MESO) Shares Down 4.5% – Here’s Why

Mesoblast Limited (NASDAQ:MESO) shares traded down 4.5% during trading on Wednesday. The stock traded as low as $13.91 and last traded at $13.7950. 1,976 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 234,049 shares. The stock had previously closed at $14.44.

Wall Street Analyst Weigh In

Several research firms have commented on MESO. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research note on Thursday, September 24th. Weiss Ratings upgraded Mesoblast from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $39.00 price target (up from $35.00) on shares of Mesoblast in a report on Thursday, August 27th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Mesoblast currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Mesoblast Price Performance

The stock’s fifty day simple moving average is $14.40 and its 200-day simple moving average is $15.26. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.19.

Mesoblast (NASDAQ:MESO) last posted its quarterly earnings results on Friday, July 31st. The company reported ($0.07) earnings per share for the quarter. The business had revenue of $34.45 million during the quarter. As a group, equities analysts anticipate that Mesoblast Limited will post -0.05 earnings per share for the current year.

Institutional Trading of Mesoblast

A number of hedge funds have recently modified their holdings of MESO. Bank of America Corp DE grew its holdings in Mesoblast by 608.4% during the first quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock worth $1,538,000 after acquiring an additional 85,888 shares during the period. Royal Bank of Canada raised its position in Mesoblast by 22.5% during the first quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock valued at $404,000 after acquiring an additional 4,827 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mesoblast during the third quarter valued at approximately $39,000. China Universal Asset Management Co. Ltd. lifted its holdings in Mesoblast by 15.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,566 shares of the company’s stock valued at $142,000 after acquiring an additional 1,247 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Mesoblast by 14.1% in the second quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock valued at $100,000 after acquiring an additional 916 shares during the period. Hedge funds and other institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast is an Australia-based biotechnology company developing regenerative medicine products made from mesenchymal lineage cells. Its allogeneic cell therapies are designed to address inflammatory and immune-mediated conditions by modulating the body’s immune response and supporting tissue repair. The company’s lead commercial product, Ryoncil (remestemcel-L-rknd), is approved in the United States to treat steroid-refractory acute graft-versus-host disease in pediatric patients. A related product, marketed as Temcell in Japan, is used there to treat acute graft-versus-host disease.