Mesoblast (NASDAQ:MESO) Upgraded by Canaccord Genuity Group to Strong-Buy Rating

Key Points

• Mesoblast's stock rating was upgraded to "strong-buy" by Canaccord Genuity, while Jefferies downgraded it to "hold," reflecting mixed analyst sentiment.
• The stock has seen a recent 2.4% decrease and currently trades at $15.29, with a 12-month low of $5.95 and a high of $22.00.
• Institutional investors hold 1.43% of Mesoblast's shares, with several firms recently increasing their stakes during the second quarter.

Mesoblast (NASDAQ:MESO - Get Free Report) was upgraded by analysts at Canaccord Genuity Group to a "strong-buy" rating in a report issued on Tuesday, August 5th,Zacks.com reports.

Separately, Jefferies Financial Group lowered shares of Mesoblast from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Mesoblast Stock Performance

Shares of NASDAQ MESO traded up $0.36 during midday trading on Tuesday, reaching $15.06. 92,853 shares of the stock were exchanged, compared to its average volume of 281,085. Mesoblast has a 12 month low of $6.00 and a 12 month high of $22.00. The business has a 50-day simple moving average of $12.72 and a two-hundred day simple moving average of $13.26. The company has a current ratio of 0.96, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of Mesoblast by 1,503.3% during the fourth quarter. Bank of America Corp DE now owns 290,728 shares of the company's stock valued at $5,756,000 after acquiring an additional 272,595 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Mesoblast during the first quarter valued at $3,209,000. GAMMA Investing LLC raised its stake in shares of Mesoblast by 1,174.2% during the first quarter. GAMMA Investing LLC now owns 85,513 shares of the company's stock valued at $1,067,000 after acquiring an additional 78,802 shares during the last quarter. Summit X LLC raised its stake in shares of Mesoblast by 36.0% during the first quarter. Summit X LLC now owns 198,163 shares of the company's stock valued at $2,473,000 after acquiring an additional 52,508 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Mesoblast by 104.3% during the first quarter. Cubist Systematic Strategies LLC now owns 71,891 shares of the company's stock valued at $897,000 after acquiring an additional 36,700 shares during the last quarter. Institutional investors own 1.43% of the company's stock.

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.