Mesoblast (NASDAQ:MESO) Stock Price Down 5.5% – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO) shares were down 5.5% during trading on Tuesday . The stock traded as low as $17.38 and last traded at $17.6350. Approximately 214,621 shares were traded during trading, a decline of 14% from the average daily volume of 249,067 shares. The stock had previously closed at $18.67.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Mesoblast Trading Down 4.6%

The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -20.25 and a beta of 2.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.77 and a current ratio of 1.99. The company has a 50-day moving average price of $17.40 and a 200-day moving average price of $16.00.

Institutional Trading of Mesoblast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of Mesoblast by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after buying an additional 1,012 shares during the last quarter. JFS Wealth Advisors LLC acquired a new stake in Mesoblast during the 3rd quarter worth $54,000. Farther Finance Advisors LLC purchased a new stake in Mesoblast in the third quarter valued at $58,000. Parkside Financial Bank & Trust acquired a new position in Mesoblast in the third quarter valued at $72,000. Finally, Raymond James Financial Inc. acquired a new position in Mesoblast in the second quarter valued at $86,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

About Mesoblast

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.