Mesoblast (NASDAQ:MESO) Shares Down 5.7% – What’s Next?

Mesoblast Limited (NASDAQ:MESO) shares dropped 5.7% on Thursday . The stock traded as low as $13.65 and last traded at $13.97. Approximately 22,031 shares traded hands during trading, a decline of 97% from the average daily volume of 789,017 shares. The stock had previously closed at $14.82.

Analyst Upgrades and Downgrades

MESO has been the subject of several research reports. Piper Sandler restated an “overweight” rating and set a $24.00 price target (up previously from $15.00) on shares of Mesoblast in a research report on Friday, February 7th. Cantor Fitzgerald raised shares of Mesoblast to a “strong-buy” rating in a report on Tuesday. Finally, Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Mesoblast has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Mesoblast Trading Down 1.5 %

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 simple moving average is $17.85 and its 200 day simple moving average is $12.33.

Institutional Investors Weigh In On Mesoblast

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in shares of Mesoblast in the fourth quarter worth about $2,744,000. Jane Street Group LLC lifted its holdings in shares of Mesoblast by 46.4% in the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after buying an additional 26,959 shares in the last quarter. Clayton Financial Group LLC purchased a new stake in shares of Mesoblast in the fourth quarter worth about $275,000. Ballentine Partners LLC purchased a new stake in shares of Mesoblast in the fourth quarter worth about $222,000. Finally, Creative Planning purchased a new stake in shares of Mesoblast in the third quarter worth about $147,000. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.