Mesoblast (NASDAQ:MESO) Shares Up 8.2% - Here's What Happened

Key Points

• Mesoblast shares rose 8.2% on Wednesday, reaching an intraday high of $18.07 before last trading around $18.12, well above the prior close of $16.74.
• Trading volume was light, with 84,807 shares changing hands, down 62% from the stock’s average session volume of 225,562 shares.
• Analyst sentiment remains mixed: Weiss Ratings reiterated a “sell (e+)” rating, while MarketBeat says the consensus among analysts is currently “Hold.”

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares shot up 8.2% on Wednesday . The company traded as high as $18.07 and last traded at $18.1190. 84,807 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 225,562 shares. The stock had previously closed at $16.74.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Mesoblast in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold".

Mesoblast Stock Performance

The firm's 50-day moving average price is $14.63 and its two-hundred day moving average price is $15.82. The firm has a market capitalization of $2.33 billion, a PE ratio of -64.21 and a beta of 2.08. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10.

Institutional Trading of Mesoblast

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Mesoblast during the fourth quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Mesoblast by 30.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company's stock worth $43,000 after acquiring an additional 558 shares during the period. JPMorgan Chase & Co. boosted its position in Mesoblast by 55.6% during 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 period. Raymond James Financial Inc. purchased a new position in Mesoblast during the 2nd quarter valued at about $86,000. Finally, NBC Securities Inc. purchased a new position in Mesoblast during the 4th quarter valued at about $89,000. Hedge funds and other institutional investors own 1.43% of the company's stock.

Mesoblast Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.