Mesoblast (NASDAQ:MESO) Trading Down 5.5% – Time to Sell?

by · The Cerbat Gem

Mesoblast Limited (NASDAQ:MESO – Get Free Report) shares were down 5.5% during trading on Tuesday . The company traded as low as $17.38 and last traded at $17.6350. Approximately 214,621 shares traded hands during trading, a decline of 14% from the average daily volume of 249,067 shares. The stock had previously closed at $18.67.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

View Our Latest Report on MESO

Mesoblast Stock Down 4.6%

The company has a quick ratio of 1.77, a current ratio of 1.99 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average price is $17.40 and its 200 day moving average price is $16.00. The firm has a market capitalization of $2.29 billion, a PE ratio of -20.25 and a beta of 2.14.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MESO. Rialto Wealth Management LLC purchased a new stake in shares of Mesoblast during the fourth quarter worth approximately $839,000. JPMorgan Chase & Co. increased its stake in Mesoblast by 55.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock valued at $46,000 after buying an additional 1,012 shares during the period. Bank of America Corp DE raised its position in Mesoblast by 791.7% during the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after buying an additional 98,960 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Mesoblast in the 3rd quarter worth $655,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Mesoblast by 116.8% in the 3rd quarter. Squarepoint Ops LLC now owns 31,656 shares of the company’s stock worth $510,000 after acquiring an additional 17,053 shares during the period. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

(Get Free Report)

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.

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