Mesoblast (NASDAQ:MESO) Trading Up 7.9%

Mesoblast Limited (NASDAQ:MESO)’s stock price traded up 7.9% on Wednesday . The company traded as high as $5.16 and last traded at $5.06. 196,286 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,913,120 shares. The stock had previously closed at $4.69.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a report on Friday, January 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Mesoblast has a consensus rating of “Hold” and an average price target of $13.67.

Mesoblast Stock Up 7.0 %

The firm has a market capitalization of $572.63 million, a PE ratio of -4.19 and a beta of 3.60. The business’s 50-day moving average price is $3.19 and its 200-day moving average price is $2.56.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MESO. EWA LLC purchased a new position in shares of Mesoblast during the 1st quarter valued at $40,000. State Street Corp purchased a new position in Mesoblast in the first quarter valued at about $757,000. BlackRock Inc. increased its position in Mesoblast by 52.2% in the 1st quarter. BlackRock Inc. now owns 83,464 shares of the company’s stock worth $275,000 after purchasing an additional 28,638 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Mesoblast during the 4th quarter worth about $187,000. Finally, Millennium Management LLC purchased a new stake in shares of Mesoblast during the 4th quarter worth about $344,000. Institutional investors and hedge funds 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.