Bank of America Corp DE Increases Holdings in Mesoblast Limited $MESO

Key Points

• Bank of America increased its Mesoblast stake by 608.4% in the first quarter, reaching 100,004 shares valued at approximately $1.54 million. Other institutional investors, including JPMorgan and Royal Bank of Canada, also raised their positions.
• Mesoblast shares opened at $17.14, down 0.9%, with a $2.23 billion market capitalization. The company reported a quarterly loss of $0.07 per share and revenue of $34.45 million.
• Analyst sentiment remains mixed: Piper Sandler raised its price target to $39 and maintained an overweight rating, while Weiss Ratings reiterated a sell rating. MarketBeat lists a consensus “Hold” rating and an average $39 price target.

Bank of America Corp DE boosted its stake in shares of Mesoblast Limited (NASDAQ:MESO - Free Report) by 608.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,004 shares of the company's stock after buying an additional 85,888 shares during the period. Bank of America Corp DE owned 0.08% of Mesoblast worth $1,538,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 1,012 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Mesoblast during the fourth quarter worth about $32,000. Tobias Financial Advisors Inc. boosted its holdings in Mesoblast by 38.3% in the 4th quarter. Tobias Financial Advisors Inc. now owns 13,828 shares of the company's stock valued at $249,000 after purchasing an additional 3,828 shares during the last quarter. Royal Bank of Canada grew its stake 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 valued at $404,000 after buying an additional 4,827 shares during the period. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Mesoblast in the 3rd quarter valued at approximately $113,000. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

Mesoblast Trading Down 0.9%

Shares of MESO stock opened at $17.14 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.43 and a quick ratio of 2.09. The firm has a market cap of $2.23 billion, a PE ratio of -61.21 and a beta of 2.12. The company has a 50-day moving average of $15.87 and a two-hundred day moving average of $15.37. Mesoblast Limited has a 1-year low of $13.05 and a 1-year high of $21.50.

Mesoblast (NASDAQ:MESO - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported ($0.07) earnings per share for the quarter. The business had revenue of $34.45 million for the quarter. On average, analysts predict that Mesoblast Limited will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

MESO has been the topic of several analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $39.00 price target (up from $35.00) on shares of Mesoblast in a research report on Thursday, August 27th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Mesoblast in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $39.00.

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.

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