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

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

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

Mesoblast Stock Performance

Mesoblast stock traded up $0.35 during trading hours on Tuesday, reaching $6.19. 220,533 shares of the stock were exchanged, compared to its average volume of 1,056,047. The stock has a market cap of $706.77 million, a P/E ratio of -5.53 and a beta of 3.48. Mesoblast has a 52-week low of $1.61 and a 52-week high of $8.66. The firm’s 50 day moving average is $7.18 and its 200 day moving average is $5.29.

Institutional Trading of Mesoblast

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Mesoblast by 50.1% in 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. Perkins Coie Trust Co acquired a new position in shares of Mesoblast in the 2nd quarter worth approximately $68,000. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Mesoblast in the 2nd quarter valued at approximately $80,000. Chapin Davis Inc. increased its holdings in shares of Mesoblast by 50.0% in the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Chase Investment Counsel Corp acquired a new position in Mesoblast in the first quarter worth $298,000. 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.