Mesoblast (NASDAQ:MESO) Stock Price Down 5.7% – Here’s Why

Shares of Mesoblast Limited (NASDAQ:MESO) fell 5.7% on Friday . The stock traded as low as $17.16 and last traded at $17.25. 88,059 shares were traded during trading, a decline of 88% from the average session volume of 738,610 shares. The stock had previously closed at $18.29.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MESO. Jefferies Financial Group cut Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, September 24th. Finally, Piper Sandler lifted their price objective 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.50.

Mesoblast Stock Down 4.2 %

The stock has a fifty day simple moving average of $11.24 and a two-hundred day simple moving average of $8.64. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Mesoblast

Hedge funds have recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co bought a new position in Mesoblast in the 2nd quarter valued at $80,000. Rathbones Group PLC purchased a new stake in shares of Mesoblast in the second quarter worth $95,000. XTX Topco Ltd bought a new stake in Mesoblast during the second quarter valued at $103,000. Marshall Wace LLP bought a new stake in Mesoblast during the second quarter valued at $562,000. Finally, Lazari Capital Management Inc. increased its stake in Mesoblast by 6.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after acquiring an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.