Mesoblast (NASDAQ:MESO) Trading 2.9% Higher – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s share price rose 2.9% during trading on Monday . The company traded as high as $12.49 and last traded at $12.47. Approximately 95,243 shares traded hands during trading, a decline of 75% from the average daily volume of 383,352 shares. The stock had previously closed at $12.11.

Wall Street Analyst Weigh In

MESO has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised Mesoblast to a “strong-buy” rating in a research report on Tuesday, March 4th. 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. Finally, Jefferies Financial Group cut shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Mesoblast currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Mesoblast Stock Performance

The firm has a fifty day simple moving average of $16.31 and a two-hundred day simple moving average of $13.21. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in Mesoblast by 1,503.3% in the fourth quarter. Bank of America Corp DE now owns 290,728 shares of the company’s stock worth $5,756,000 after purchasing an additional 272,595 shares during the last quarter. Oaktree Capital Management LP purchased a new stake in Mesoblast during the fourth quarter worth $3,556,000. Strategic Financial Concepts LLC purchased a new position in Mesoblast in the fourth quarter worth $2,744,000. Prosperity Wealth Management Inc. grew its position in Mesoblast by 2.0% during the 4th quarter. Prosperity Wealth Management Inc. now owns 93,245 shares of the company’s stock worth $1,846,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after purchasing an additional 26,959 shares during the period. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.