Mesoblast (NASDAQ:MESO) Hits New 12-Month Low – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s stock price reached a new 52-week low on Friday. The company traded as low as $12.94 and last traded at $13.21, with a volume of 409,501 shares changing hands. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MESO shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research note on Thursday, September 24th. Weiss Ratings raised shares of Mesoblast from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $39.00 price target (up from $35.00) on shares of Mesoblast in a report on Thursday, August 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.00.

Mesoblast Trading Down 5.2%

The business has a 50 day simple moving average of $15.71 and a 200-day simple moving average of $15.24. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.19.

Mesoblast (NASDAQ:MESO) last posted its quarterly earnings data on Friday, July 31st. The company reported ($0.07) EPS for the quarter. The firm had revenue of $34.45 million for the quarter. Sell-side analysts expect that Mesoblast Limited will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Mesoblast

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Mesoblast by 608.4% during the 1st quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock valued at $1,538,000 after buying an additional 85,888 shares during the period. Royal Bank of Canada raised its position in shares of Mesoblast by 22.5% in the 1st quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock worth $404,000 after buying an additional 4,827 shares during the period. GAMMA Investing LLC boosted its holdings in Mesoblast by 14.1% in the second quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock valued at $100,000 after acquiring an additional 916 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Mesoblast in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited is a regenerative medicine company that develops and commercializes cellular medicines for serious inflammatory and immune-mediated conditions. The company’s platform is based primarily on specialized allogeneic mesenchymal lineage precursor cells, which are obtained from healthy adult donors and developed for use without patient-specific matching.

Mesoblast’s lead commercial product, Ryoncil (remestemcel-L), is an off-the-shelf cell therapy approved in the United States for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients.