Mesoblast (NASDAQ:MESO) Shares Down 5.2%

Shares of Mesoblast Limited (NASDAQ:MESO) were down 5.2% on Wednesday . The company traded as low as $7.76 and last traded at $7.84. Approximately 49,189 shares changed hands during trading, a decline of 96% from the average daily volume of 1,109,653 shares. The stock had previously closed at $8.27.

Analysts Set New Price Targets

A number of research analysts have weighed in on MESO shares. StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $4.00 to $11.00 in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.00.

Mesoblast Price Performance

The company has a market cap of $847.22 million, a PE ratio of -6.62 and a beta of 3.48. The company has a fifty day moving average price of $7.40 and a 200 day moving average price of $4.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Chapin Davis Inc. grew 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 worth $102,000 after purchasing an additional 5,000 shares in the last quarter. Perkins Coie Trust Co purchased a new position in shares of Mesoblast during the second quarter worth about $68,000. GAMMA Investing LLC grew its holdings in shares of 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 in the last quarter. Finally, Chase Investment Counsel Corp purchased a new position in shares of Mesoblast during the first quarter worth about $298,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

About Mesoblast

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.