Mesoblast (NASDAQ:MESO) Stock Price Up 7.9%

Mesoblast Limited (NASDAQ:MESO) shares shot up 7.9% on Wednesday . The stock traded as high as $5.16 and last traded at $5.06. 196,286 shares changed hands during 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 Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MESO shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Friday, January 12th. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mesoblast currently has an average rating of “Hold” and a consensus price target of $13.67.

Mesoblast Stock Performance

The business has a fifty day simple moving average of $3.19 and a 200 day simple moving average of $2.56. The stock has a market cap of $572.63 million, a price-to-earnings ratio of -4.19 and a beta of 3.60.

Institutional Trading of Mesoblast

A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. purchased a new position in Mesoblast in the 3rd quarter valued at about $33,000. EWA LLC purchased a new position in shares of Mesoblast during the first quarter valued at approximately $40,000. Prosperity Wealth Management Inc. acquired a new stake in Mesoblast during the third quarter worth approximately $79,000. Vident Investment Advisory LLC boosted its position in Mesoblast by 12.8% during the fourth quarter. Vident Investment Advisory LLC now owns 28,080 shares of the company’s stock worth $82,000 after acquiring an additional 3,191 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Mesoblast in the 4th quarter worth approximately $85,000. 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.