Mesoblast (NASDAQ:MESO) Shares Up 7.6% - Here's What Happened

Key Points

• Mesoblast Limited's shares rose by 7.6% during mid-day trading, reaching a high of $19.78 before closing at $19.46.
• Analyst ratings for Mesoblast are mixed, with a consensus of "Moderate Buy" and a target price of $24.00, but firms like Jefferies have downgraded their ratings.
• Institutional investors have shown increased interest, with notable activities including a new position from Goldman Sachs valued at approximately $3.2 million and significant boosts in holdings from GAMMA Investing and Cubist Systematic Strategies.

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shot up 7.6% during mid-day trading on Wednesday . The stock traded as high as $19.78 and last traded at $19.46. 104,409 shares were traded during mid-day trading, a decline of 62% from the average session volume of 275,537 shares. The stock had previously closed at $18.09.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MESO. Weiss Ratings restated a "sell (e+)" rating on shares of Mesoblast in a research report on Wednesday. Jefferies Financial Group lowered shares of Mesoblast from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Canaccord Genuity Group upgraded shares of Mesoblast to a "strong-buy" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Mesoblast presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Mesoblast Trading Up 9.8%

The company has a quick ratio of 1.77, a current ratio of 1.99 and a debt-to-equity ratio of 0.11. The firm's fifty day simple moving average is $15.55 and its two-hundred day simple moving average is $13.04.

Hedge Funds Weigh In On Mesoblast

Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new position in Mesoblast in the 1st quarter valued at about $3,209,000. GAMMA Investing LLC boosted its holdings in Mesoblast by 1,174.2% in the 1st quarter. GAMMA Investing LLC now owns 85,513 shares of the company's stock valued at $1,067,000 after purchasing an additional 78,802 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Mesoblast by 104.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 71,891 shares of the company's stock valued at $897,000 after purchasing an additional 36,700 shares during the last quarter. Summit X LLC boosted its holdings in Mesoblast by 36.0% in the 1st quarter. Summit X LLC now owns 198,163 shares of the company's stock valued at $2,473,000 after purchasing an additional 52,508 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Mesoblast in the 2nd quarter valued at about $124,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.

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