Mesoblast (NASDAQ:MESO) Trading 6.4% Higher

Mesoblast Limited (NASDAQ:MESO)’s share price was up 6.4% on Friday . The company traded as high as $6.82 and last traded at $6.82. Approximately 9,514 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 889,149 shares. The stock had previously closed at $6.41.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MESO shares. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and upped their price target for the company from $4.00 to $11.00 in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th.

Mesoblast Stock Up 5.1 %

The business’s fifty day simple moving average is $6.64 and its 200 day simple moving average is $6.23. The stock has a market cap of $769.56 million, a price-to-earnings ratio of -6.09 and a beta of 3.47. 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MESO. GAMMA Investing LLC increased its stake in Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares in the last quarter. Perkins Coie Trust Co bought a new stake in shares of Mesoblast during the second quarter worth $68,000. Pine Valley Investments Ltd Liability Co bought a new stake in Mesoblast in the 2nd quarter valued at $80,000. Rathbones Group PLC bought a new position in Mesoblast during the 2nd quarter worth about $95,000. Finally, Chapin Davis Inc. boosted its position in shares of Mesoblast by 50.0% during the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after buying an additional 5,000 shares during the period. 1.43% of the stock is currently owned by institutional investors.

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.