Mesoblast (NASDAQ:MESO) Shares Up 7.9%

Mesoblast Limited (NASDAQ:MESO) shares traded up 7.9% during trading on Monday . The company traded as high as $8.20 and last traded at $8.20. Approximately 79,710 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 865,477 shares. The stock had previously closed at $7.60.

Analyst Ratings Changes

MESO has been the topic of a number of research analyst reports. Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and upped their target price for the company from $4.00 to $11.00 in a report on Tuesday, July 23rd. StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, September 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Finally, Jefferies Financial Group raised Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, Mesoblast has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Trading Up 7.6 %

The firm’s 50-day simple moving average is $6.60 and its 200 day simple moving average is $6.49. The firm has a market capitalization of $933.98 million, a price-to-earnings ratio of -7.32 and a beta of 3.47. 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 hedge funds have recently made changes to their positions in MESO. Marshall Wace LLP bought a new position in shares of Mesoblast during the second quarter valued at $562,000. Chase Investment Counsel Corp bought a new position in Mesoblast during the 1st quarter worth $298,000. Lazari Capital Management Inc. lifted its holdings in Mesoblast by 6.6% during the 2nd quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after buying an additional 3,300 shares during the period. XTX Topco Ltd bought a new stake in shares of Mesoblast in the 2nd quarter valued at about $103,000. Finally, Chapin Davis Inc. increased its stake in shares of Mesoblast by 50.0% in the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after buying an additional 5,000 shares during the period. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.