Mesoblast (NASDAQ:MESO) Trading 13.6% Higher – Should You Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) were up 13.6% during trading on Friday . The stock traded as high as $11.98 and last traded at $11.79. Approximately 53,600 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 724,829 shares. The stock had previously closed at $10.38.

Analyst Ratings Changes

Several research firms recently weighed in on MESO. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, September 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Finally, Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Trading Up 13.3 %

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 stock’s 50 day moving average is $10.08 and its 200-day moving average is $8.08.

Institutional Trading of Mesoblast

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in Mesoblast in the second quarter worth about $562,000. Chapin Davis Inc. lifted its stake in shares of Mesoblast by 50.0% in the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after purchasing an additional 5,000 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after purchasing an additional 3,099 shares during the period. Rathbones Group PLC bought a new position in shares of Mesoblast during the 2nd quarter valued at approximately $95,000. Finally, Creative Planning purchased a new stake in Mesoblast during the 3rd quarter valued at $147,000. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

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.