Mesoblast (NASDAQ:MESO) Trading Down 3.5% - Here's What Happened

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s share price traded down 3.5% during trading on Wednesday . The stock traded as low as $9.20 and last traded at $9.22. 115,360 shares traded hands during trading, a decline of 86% from the average session volume of 846,832 shares. The stock had previously closed at $9.55.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Mesoblast in a research note on Thursday, August 29th. Piper Sandler raised shares of Mesoblast from a "neutral" rating to an "overweight" rating and raised their target price for the company from $4.00 to $11.00 in a research note on Tuesday, July 23rd. Maxim Group raised shares of Mesoblast from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research note on Tuesday, September 24th. Jefferies Financial Group raised shares of Mesoblast from a "hold" rating to a "buy" rating in a research note on Thursday, August 29th. Finally, StockNews.com cut shares of Mesoblast from a "hold" rating to a "sell" rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.50.

Mesoblast Stock Performance

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 50-day moving average price is $6.91 and its two-hundred day moving average price is $6.85. The company has a market cap of $1.05 billion, a P/E ratio of -8.21 and a beta of 3.47.

Hedge Funds Weigh In On Mesoblast

Several large investors have recently made changes to their positions in the business. Marshall Wace LLP bought a new position in shares of Mesoblast during the 2nd quarter valued at about $562,000. Chase Investment Counsel Corp bought a new position in shares of Mesoblast during the 1st quarter valued at about $298,000. Lazari Capital Management Inc. boosted its holdings in shares of Mesoblast by 6.6% in the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company's stock worth $364,000 after buying an additional 3,300 shares during the period. XTX Topco Ltd acquired a new stake in shares of Mesoblast during the second quarter valued at approximately $103,000. Finally, Chapin Davis Inc. raised its holdings in shares of Mesoblast by 50.0% during the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company's stock valued at $102,000 after acquiring an additional 5,000 shares during the period. 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.