Mesoblast (NASDAQ:MESO) Trading Up 7.3%

Mesoblast Limited (NASDAQ:MESO) shares rose 7.3% during mid-day trading on Tuesday . The company traded as high as $8.47 and last traded at $8.10. Approximately 207,907 shares were traded during trading, a decline of 81% from the average daily volume of 1,112,417 shares. The stock had previously closed at $7.55.

Analyst Ratings Changes

MESO has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research report on Thursday, June 20th. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Mesoblast has a consensus rating of “Hold” and a consensus target price of $13.67.

Mesoblast Price Performance

The firm has a market cap of $935.12 million, a price-to-earnings ratio of -7.23 and a beta of 3.48. The business’s 50-day moving average price is $7.36 and its two-hundred day moving average price is $4.88.

Institutional Trading of Mesoblast

A number of hedge funds have recently made changes to their positions in MESO. Chase Investment Counsel Corp acquired a new stake in shares of Mesoblast during the first quarter worth approximately $298,000. Perkins Coie Trust Co bought a new position in Mesoblast during the second quarter worth $68,000. Chapin Davis Inc. lifted its stake in Mesoblast by 50.0% during the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after purchasing an additional 5,000 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares during the last quarter. Institutional investors and hedge funds 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.