Mesoblast (NASDAQ:MESO) Sees Unusually-High Trading Volume Following Analyst Upgrade

Mesoblast Limited (NASDAQ:MESO) shares saw unusually-strong trading volume on Thursday after Piper Sandler raised their price target on the stock from $11.00 to $15.00. Piper Sandler currently has an overweight rating on the stock. Approximately 1,283,734 shares changed hands during trading, an increase of 78% from the previous session’s volume of 722,881 shares.The stock last traded at $15.00 and had previously closed at $12.25.

A number of other analysts have also recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, September 24th. Jefferies Financial Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Finally, StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.50.

Institutional Investors Weigh In On Mesoblast

Several institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its holdings in shares of Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after purchasing an additional 3,099 shares in the last quarter. Perkins Coie Trust Co lifted its stake in Mesoblast by 15.0% in the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after buying an additional 1,500 shares in the last quarter. Pine Valley Investments Ltd Liability Co acquired a new stake in Mesoblast during the 2nd quarter valued at $80,000. Rathbones Group PLC purchased a new position in Mesoblast during the second quarter worth $95,000. Finally, XTX Topco Ltd acquired a new position in shares of Mesoblast in the second quarter worth $103,000. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

Mesoblast Trading Down 12.7 %

The business has a 50 day moving average of $10.48 and a 200 day moving average of $8.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

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.