Mesoblast (NASDAQ:MESO) Stock Price Down 4.5% – What’s Next?

Mesoblast Limited (NASDAQ:MESO) shares dropped 4.5% during mid-day trading on Wednesday. The company traded as low as $13.91 and last traded at $13.7950. Approximately 1,976 shares were traded during trading, a decline of 99% from the average session volume of 234,049 shares. The stock had previously closed at $14.44.

Analyst Ratings Changes

Several equities analysts recently issued reports on MESO shares. Piper Sandler restated an “overweight” rating and issued a $39.00 price target (up from $35.00) on shares of Mesoblast in a research report on Thursday, August 27th. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research report on Thursday, September 24th. Finally, Weiss Ratings upgraded shares of Mesoblast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mesoblast has an average rating of “Hold” and an average price target of $39.00.

Mesoblast Stock Down 1.3%

The company has a 50 day moving average of $14.54 and a 200 day moving average of $15.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.43 and a quick ratio of 2.09.

Mesoblast (NASDAQ:MESO) last issued its quarterly earnings results on Friday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $34.45 million during the quarter. Research analysts predict that Mesoblast Limited will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MESO. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mesoblast in the third quarter worth approximately $39,000. GAMMA Investing LLC grew its holdings in Mesoblast by 14.1% in the second quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock valued at $100,000 after purchasing an additional 916 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Mesoblast by 15.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,566 shares of the company’s stock worth $142,000 after purchasing an additional 1,247 shares during the last quarter. Royal Bank of Canada increased its position in Mesoblast by 22.5% during the first quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock worth $404,000 after purchasing an additional 4,827 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Mesoblast by 608.4% during the first quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock worth $1,538,000 after purchasing an additional 85,888 shares during the period. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

About Mesoblast

Mesoblast is an Australia-based biotechnology company developing regenerative medicine products made from mesenchymal lineage cells. Its allogeneic cell therapies are designed to address inflammatory and immune-mediated conditions by modulating the body’s immune response and supporting tissue repair. The company’s lead commercial product, Ryoncil (remestemcel-L-rknd), is approved in the United States to treat steroid-refractory acute graft-versus-host disease in pediatric patients. A related product, marketed as Temcell in Japan, is used there to treat acute graft-versus-host disease.