Mesoblast (NASDAQ:MESO) Shares Down 3.4% - Here's What Happened

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s stock price fell 3.4% during trading on Tuesday . The stock traded as low as $18.10 and last traded at $18.32. 102,181 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 360,621 shares. The stock had previously closed at $18.96.

Wall Street Analyst Weigh In

MESO has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered Mesoblast from a "buy" rating to a "hold" rating in a research note on Monday, December 23rd. Piper Sandler upped their price target on shares of Mesoblast from $11.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, December 19th. Finally, Maxim Group raised shares of Mesoblast from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.50.

Mesoblast Trading Down 5.6 %

The company has a 50-day moving average of $12.73 and a 200-day moving average of $9.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Large investors have recently bought and sold shares of the business. Jane Street Group LLC raised its position in shares of Mesoblast by 46.4% during the 3rd 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. Marshall Wace LLP acquired a new stake in Mesoblast in the second quarter worth $562,000. Signaturefd LLC increased its position in Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company's stock worth $45,000 after buying an additional 3,099 shares during the period. Rathbones Group PLC bought a new stake in Mesoblast in the second quarter valued at $95,000. Finally, Creative Planning acquired a new position in shares of Mesoblast during the third quarter valued at $147,000. Institutional investors own 1.43% of the company's stock.

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.