Mesoblast (NASDAQ:MESO) Rating Increased to Hold at StockNews.com

Mesoblast (NASDAQ:MESO) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other equities research analysts have also commented on MESO. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research report on Thursday, June 20th. Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and upped their target price for the company from $4.00 to $11.00 in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Mesoblast Stock Performance

Shares of MESO stock traded up $0.35 on Tuesday, reaching $6.19. The stock had a trading volume of 220,533 shares, compared to its average volume of 1,056,047. Mesoblast has a 1 year low of $1.61 and a 1 year high of $8.66. The stock has a market cap of $706.77 million, a P/E ratio of -5.53 and a beta of 3.48. The company has a 50 day simple moving average of $7.18 and a 200 day simple moving average of $5.29.

Institutional Trading of Mesoblast

A number of hedge funds and other institutional investors have recently bought and sold shares of MESO. GAMMA Investing LLC boosted its holdings in Mesoblast by 50.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after buying an additional 1,663 shares during the period. Perkins Coie Trust Co purchased a new position in shares of Mesoblast during the second quarter valued at about $68,000. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Mesoblast in the second quarter worth about $80,000. Chapin Davis Inc. lifted its position in shares of Mesoblast by 50.0% in the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after buying an additional 5,000 shares in the last quarter. Finally, Chase Investment Counsel Corp bought a new position in Mesoblast during the first quarter valued at approximately $298,000. Hedge funds and other 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.