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

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Cantor Fitzgerald raised Mesoblast to a “strong-buy” rating in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $24.00 target price (up from $15.00) on shares of Mesoblast in a research report on Friday, February 7th. Finally, Jefferies Financial Group lowered 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Mesoblast Stock 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 firm has a 50-day moving average of $17.94 and a two-hundred day moving average of $12.33.

Institutional Trading of Mesoblast

A number of hedge funds and other institutional investors have recently made changes to their positions in MESO. Cubist Systematic Strategies LLC grew its stake in Mesoblast by 241.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 35,191 shares of the company’s stock worth $697,000 after purchasing an additional 24,870 shares in the last quarter. Bank of America Corp DE grew its position in shares of Mesoblast by 1,503.3% in the 4th quarter. Bank of America Corp DE now owns 290,728 shares of the company’s stock worth $5,756,000 after acquiring an additional 272,595 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Mesoblast by 86,566.7% in the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock valued at $51,000 after acquiring an additional 2,597 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Mesoblast during the 4th quarter valued at approximately $88,000. Finally, Jump Financial LLC bought a new position in Mesoblast during the fourth quarter worth $205,000. 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.