StockNews.com Upgrades Mesoblast (NASDAQ:MESO) to “Hold”

Mesoblast (NASDAQ:MESO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

MESO has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research note on Thursday, June 20th. Piper Sandler upgraded shares of Mesoblast from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd.

Mesoblast Stock Up 0.2 %

Mesoblast stock opened at $6.37 on Tuesday. Mesoblast has a 52 week low of $1.61 and a 52 week high of $8.66. The firm has a market cap of $727.31 million, a price-to-earnings ratio of -5.69 and a beta of 3.48. The business’s 50-day moving average price is $6.86 and its 200 day moving average price is $5.78.

Hedge Funds Weigh In On Mesoblast

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Mesoblast by 50.1% during 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 in the last quarter. Perkins Coie Trust Co acquired a new stake in Mesoblast in the 2nd quarter worth about $68,000. Pine Valley Investments Ltd Liability Co purchased a new stake in Mesoblast during the 2nd quarter worth approximately $80,000. Rathbones Group PLC acquired a new position in shares of Mesoblast during the second quarter valued at approximately $95,000. Finally, Chapin Davis Inc. lifted 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 valued at $102,000 after acquiring an additional 5,000 shares in the last quarter. 1.43% of the stock is currently 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.