Mesoblast (NASDAQ:MESO) Trading 13.6% Higher – Here’s Why

Mesoblast Limited (NASDAQ:MESO) shares traded up 13.6% during mid-day trading on Friday . The company traded as high as $11.98 and last traded at $11.79. 53,600 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 724,829 shares. The stock had previously closed at $10.38.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, September 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Finally, StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Mesoblast Price Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $10.06 and a two-hundred day moving average price of $8.05.

Institutional Trading of Mesoblast

Several institutional investors and hedge funds have recently bought and sold shares of MESO. Signaturefd LLC raised 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 buying an additional 3,099 shares during the last quarter. Perkins Coie Trust Co increased its position 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 acquiring an additional 1,500 shares during the period. Pine Valley Investments Ltd Liability Co acquired a new position in Mesoblast in the 2nd quarter valued at about $80,000. Rathbones Group PLC purchased a new stake in Mesoblast during the 2nd quarter valued at approximately $95,000. Finally, Chapin Davis Inc. lifted its position in Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.