Mesoblast (NASDAQ:MESO) Trading 6.1% Higher – Should You Buy?

Mesoblast Limited (NASDAQ:MESO)’s share price rose 6.1% during mid-day trading on Thursday . The stock traded as high as $18.07 and last traded at $18.06. Approximately 92,091 shares were traded during trading, a decline of 88% from the average daily volume of 738,914 shares. The stock had previously closed at $17.02.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MESO shares. Piper Sandler increased their price target on shares of Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.50.

Mesoblast Stock Performance

The company’s fifty day moving average is $11.09 and its 200 day moving average is $8.57. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its position in Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after acquiring an additional 3,099 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in shares of Mesoblast in the second quarter worth approximately $80,000. Perkins Coie Trust Co increased its stake in shares of Mesoblast by 15.0% in the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after buying an additional 1,500 shares during the period. Rathbones Group PLC bought a new stake in Mesoblast during the 2nd quarter valued at $95,000. Finally, XTX Topco Ltd purchased a new stake in Mesoblast during the 2nd quarter valued at $103,000. 1.43% of the stock is owned by institutional investors.

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.