Mesoblast (NASDAQ:MESO) Trading 4.9% Higher – Should You Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) shot up 4.9% during trading on Tuesday . The stock traded as high as $10.35 and last traded at $10.21. 11,724 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 770,086 shares. The stock had previously closed at $9.73.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Piper Sandler upgraded shares of Mesoblast from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. 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 research report on Tuesday, September 24th. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Mesoblast currently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Stock Performance

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $8.20 and its 200-day moving average price is $7.49.

Hedge Funds Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MESO. XY Capital Ltd purchased a new position in shares of Mesoblast in the 3rd quarter worth about $244,000. Signaturefd LLC grew its stake in shares of Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after purchasing an additional 3,099 shares in the last quarter. Creative Planning acquired a new position in shares of Mesoblast in the 3rd quarter worth $147,000. Perkins Coie Trust Co boosted its position in Mesoblast by 15.0% during the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after acquiring an additional 1,500 shares during the period. Finally, Lazari Capital Management Inc. raised its stake in shares of 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 purchasing an additional 3,300 shares in the last quarter. 1.43% of the stock is owned by institutional investors and hedge funds.

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.