Mesoblast (NASDAQ:MESO) Shares Down 3.5%

Mesoblast Limited (NASDAQ:MESO)’s share price dropped 3.5% during mid-day trading on Tuesday . The company traded as low as $6.55 and last traded at $6.55. Approximately 19,195 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,084,684 shares. The stock had previously closed at $6.79.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MESO. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, June 20th. Piper Sandler upgraded 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 research report on Tuesday, July 23rd. Finally, StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Mesoblast has an average rating of “Hold” and a consensus price target of $16.00.

Mesoblast Stock Down 4.4 %

The company’s 50-day moving average is $7.39 and its two-hundred day moving average is $5.10. The company has a market capitalization of $741.03 million, a P/E ratio of -6.06 and a beta of 3.48.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Chapin Davis Inc. increased its position in shares of Mesoblast by 50.0% in the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after purchasing an additional 5,000 shares during the last quarter. Perkins Coie Trust Co bought a new position in shares of Mesoblast in the second quarter worth approximately $68,000. GAMMA Investing LLC increased its position in shares of Mesoblast by 50.1% in the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares during the last quarter. Finally, Chase Investment Counsel Corp bought a new position in shares of Mesoblast in the first quarter worth approximately $298,000. 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.