Mesoblast (NASDAQ:MESO) Trading Up 7.3%

Mesoblast Limited (NASDAQ:MESO) shares were up 7.3% during mid-day trading on Tuesday . The company traded as high as $8.47 and last traded at $8.10. Approximately 207,907 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,112,417 shares. The stock had previously closed at $7.55.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MESO shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a report on Thursday, June 20th. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Finally, Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and increased their price target for the company from $4.00 to $11.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Mesoblast has a consensus rating of “Hold” and a consensus price target of $16.00.

Mesoblast Stock Down 5.0 %

The company has a market cap of $862.06 million, a price-to-earnings ratio of -7.10 and a beta of 3.48. The firm has a 50 day moving average price of $7.38 and a two-hundred day moving average price of $4.93.

Institutional Investors Weigh In On Mesoblast

Institutional investors and hedge funds have recently made changes to their positions in the business. Chapin Davis Inc. boosted its position in shares of Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after purchasing an additional 5,000 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock valued at $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 2nd quarter valued at about $68,000. Finally, Chase Investment Counsel Corp bought a new stake in shares of Mesoblast during the 1st quarter valued at about $298,000. Institutional investors own 1.43% of the company’s stock.

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.