Mesoblast (NASDAQ:MESO) Shares Down 7.9%

Mesoblast Limited (NASDAQ:MESO)’s share price traded down 7.9% on Wednesday . The company traded as low as $7.24 and last traded at $7.33. 129,080 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,648,139 shares. The stock had previously closed at $7.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a report on Friday, January 12th. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.67.

Mesoblast Trading Up 1.5 %

The company has a market cap of $831.22 million, a PE ratio of -6.40 and a beta of 3.45. The business has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $3.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Prosperity Wealth Management Inc. acquired a new position in Mesoblast during the third quarter worth $79,000. Lazari Capital Management Inc. raised its holdings in shares of Mesoblast by 9.3% during the 3rd quarter. Lazari Capital Management Inc. now owns 94,034 shares of the company’s stock worth $116,000 after acquiring an additional 8,000 shares during the period. Finally, Chase Investment Counsel Corp acquired a new position in shares of Mesoblast during the 1st quarter valued at about $298,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.