Mesoblast (NASDAQ:MESO) Trading 8.2% Higher – Still a Buy?

Mesoblast Limited (NASDAQ:MESO)’s share price shot up 8.2% during mid-day trading on Wednesday . The stock traded as high as $18.07 and last traded at $18.1190. Approximately 84,807 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 225,562 shares. The stock had previously closed at $16.74.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Mesoblast Trading Down 2.1%

The company has a current ratio of 1.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.31 billion, a PE ratio of -63.79 and a beta of 2.08. The business’s 50-day simple moving average is $14.74 and its 200-day simple moving average is $15.80.

Hedge Funds Weigh In On Mesoblast

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in shares of Mesoblast during the first quarter worth $3,209,000. Creative Planning purchased a new position in Mesoblast in the second quarter valued at about $141,000. Raymond James Financial Inc. acquired a new position in Mesoblast in the 2nd quarter worth about $86,000. JPMorgan Chase & Co. increased its position in Mesoblast by 55.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Mesoblast in the 3rd quarter worth about $10,501,000. 1.43% of the stock is owned by institutional investors and hedge funds.

Mesoblast Company Profile

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.