Mesoblast (NASDAQ:MESO) Trading Up 6.2% – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s stock price traded up 6.2% on Tuesday . The stock traded as high as $12.63 and last traded at $12.59. 81,641 shares were traded during mid-day trading, a decline of 70% from the average session volume of 269,682 shares. The stock had previously closed at $11.85.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Mesoblast Stock Performance

The company has a 50-day moving average of $11.10 and a two-hundred day moving average of $14.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC purchased a new stake in shares of Mesoblast in the fourth quarter worth $38,000. Lindbrook Capital LLC grew its position in Mesoblast by 70.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock valued at $43,000 after purchasing an additional 901 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Mesoblast during the 4th quarter valued at about $50,000. BNP Paribas Financial Markets increased its stake in Mesoblast by 86,566.7% during the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock valued at $51,000 after purchasing an additional 2,597 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Mesoblast in the fourth quarter worth about $88,000. 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.