Mesoblast (NASDAQ:MESO) Sets New 52-Week High - Here's What Happened

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $11.29 and last traded at $11.05, with a volume of 151395 shares trading hands. The stock had previously closed at $9.95.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Jefferies Financial Group upgraded Mesoblast from a "hold" rating to a "buy" rating in a report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Mesoblast in a research note on Thursday, August 29th. Maxim Group raised Mesoblast from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research note on Tuesday, September 24th. Piper Sandler raised Mesoblast from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $4.00 to $11.00 in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded Mesoblast from a "hold" rating to a "sell" rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.50.

Mesoblast Price Performance

The business has a 50-day moving average of $8.37 and a 200-day moving average of $7.54. 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 Trading of Mesoblast

Hedge funds and other institutional investors have recently modified their holdings of the business. Perkins Coie Trust Co grew 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 in the last quarter. GAMMA Investing LLC grew its position in Mesoblast by 50.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company's stock valued at $34,000 after acquiring an additional 1,663 shares in the last quarter. Signaturefd LLC grew its position in Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company's stock valued at $45,000 after acquiring an additional 3,099 shares in the last quarter. Lazari Capital Management Inc. grew its position in Mesoblast by 6.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company's stock valued at $364,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Chapin Davis Inc. boosted its stake in shares of Mesoblast by 50.0% in the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company's stock valued at $102,000 after buying an additional 5,000 shares during the period. 1.43% of the stock is owned by institutional investors and hedge funds.

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.