Mesoblast (NASDAQ:MESO) Sees Unusually-High Trading Volume - Here's Why

Mesoblast Limited (NASDAQ:MESO - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,283,734 shares changed hands during mid-day trading, an increase of 78% from the previous session's volume of 722,881 shares.The stock last traded at $15.00 and had previously closed at $12.25.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MESO. Maxim Group upgraded shares of Mesoblast from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research report on Tuesday, September 24th. Cantor Fitzgerald reissued an "overweight" rating on shares of Mesoblast in a research report on Thursday, August 29th. Piper Sandler lifted their price target on Mesoblast from $11.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday. StockNews.com cut Mesoblast from a "hold" rating to a "sell" rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group raised Mesoblast from a "hold" rating to a "buy" rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.50.

Mesoblast Stock Up 36.8 %

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 moving average price is $10.24 and its 200-day moving average price is $8.17.

Institutional Investors Weigh In On Mesoblast

Hedge funds have recently added to or reduced their stakes in the stock. Perkins Coie Trust Co lifted 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 in the last quarter. Signaturefd LLC raised its holdings in Mesoblast by 128.7% in 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. Lazari Capital Management Inc. lifted 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. Pine Valley Investments Ltd Liability Co purchased a new stake in Mesoblast during the 2nd quarter valued at $80,000. Finally, Rathbones Group PLC purchased a new stake in Mesoblast during the 2nd quarter valued at $95,000. 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.