Mesoblast (NASDAQ:MESO) Shares Down 7% – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s stock price traded down 7% during trading on Friday . The company traded as low as $12.50 and last traded at $12.37. 32,555 shares traded hands during trading, a decline of 93% from the average session volume of 437,548 shares. The stock had previously closed at $13.30.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. Cantor Fitzgerald upgraded Mesoblast to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $24.00 target price (up from $15.00) on shares of Mesoblast in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Mesoblast Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The company has a 50-day moving average price of $16.41 and a two-hundred day moving average price of $13.07.

Hedge Funds Weigh In On Mesoblast

Several institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of Mesoblast during the 4th quarter worth approximately $30,000. Barclays PLC bought a new position in Mesoblast during the fourth quarter worth $38,000. Lindbrook Capital LLC raised its holdings in shares of Mesoblast by 70.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock valued at $43,000 after purchasing an additional 901 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Mesoblast during the fourth quarter valued at about $50,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Mesoblast by 86,566.7% during the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock worth $51,000 after purchasing an additional 2,597 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.