Mesoblast (NASDAQ:MESO) Reaches New 52-Week High at $8.70

Mesoblast Limited (NASDAQ:MESO)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $8.70 and last traded at $8.60, with a volume of 51935 shares traded. The stock had previously closed at $8.27.

Analyst Upgrades and Downgrades

MESO has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, September 24th. Finally, Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.00 to $11.00 in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.50.

Mesoblast Stock Up 6.4 %

The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -7.94 and a beta of 3.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50 day moving average is $6.61 and its 200-day moving average is $6.57.

Hedge Funds Weigh In On Mesoblast

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after buying an additional 1,663 shares during the last quarter. Perkins Coie Trust Co bought a new stake in Mesoblast in the 2nd quarter valued at $68,000. Pine Valley Investments Ltd Liability Co acquired a new stake in Mesoblast in the 2nd quarter worth $80,000. Rathbones Group PLC acquired a new stake in Mesoblast in the 2nd quarter worth $95,000. Finally, Chapin Davis Inc. increased its holdings in shares of Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 1.43% of the company’s stock.

About Mesoblast

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.