Mesoblast Limited (NASDAQ:MESO) Sees Large Increase in Short Interest

Mesoblast Limited (NASDAQ:MESO) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,010,000 shares, an increase of 20.5% from the August 31st total of 838,200 shares. Based on an average daily volume of 157,200 shares, the short-interest ratio is presently 6.4 days.

Analysts Set New Price Targets

Several analysts have weighed in on MESO shares. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $4.00 to $11.00 in a report on Tuesday, July 23rd. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.50.

Mesoblast Price Performance

MESO stock traded up $0.57 during trading on Monday, hitting $8.17. The company had a trading volume of 440,208 shares, compared to its average volume of 867,394. The business has a 50 day moving average of $6.61 and a 200 day moving average of $6.53. The firm has a market capitalization of $932.83 million, a price-to-earnings ratio of -7.29 and a beta of 3.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. Mesoblast has a fifty-two week low of $1.61 and a fifty-two week high of $8.66.

Hedge Funds Weigh In On Mesoblast

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock valued at $34,000 after purchasing an additional 1,663 shares in the last quarter. Lazari Capital Management Inc. lifted its position in shares of Mesoblast by 6.6% in the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after purchasing an additional 3,300 shares in the last quarter. 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 purchasing an additional 5,000 shares in the last quarter. Perkins Coie Trust Co bought a new position in Mesoblast during the second quarter valued at approximately $68,000. Finally, Pine Valley Investments Ltd Liability Co bought a new position in Mesoblast during the second quarter valued at approximately $80,000. 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.