Mesoblast (NASDAQ:MESO) Shares Down 3.5%

Mesoblast Limited (NASDAQ:MESO - Get Free Report) dropped 3.5% on Thursday . The stock traded as low as $5.81 and last traded at $6.10. Approximately 291,388 shares traded hands during trading, a decline of 86% from the average daily volume of 2,070,776 shares. The stock had previously closed at $6.32.

Analyst Ratings Changes

MESO has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Mesoblast in a report on Friday, January 12th. StockNews.com downgraded Mesoblast from a "hold" rating to a "sell" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Mesoblast presently has a consensus rating of "Hold" and a consensus price target of $13.67.

Mesoblast Stock Down 6.8 %

The business has a fifty day simple moving average of $2.50 and a 200 day simple moving average of $2.37. The company has a market cap of $670.05 million, a price-to-earnings ratio of -5.30 and a beta of 3.60.

Institutional Investors Weigh In On Mesoblast

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Mesoblast by 3.8% in the third quarter. BlackRock Inc. now owns 881,883 shares of the company's stock valued at $2,245,000 after acquiring an additional 32,346 shares during the period. State Street Corp acquired a new stake in Mesoblast in the first quarter valued at $757,000. Millennium Management LLC acquired a new stake in Mesoblast in the fourth quarter valued at $344,000. Lazari Capital Management Inc. lifted its holdings in Mesoblast by 9.3% in the third quarter. Lazari Capital Management Inc. now owns 94,034 shares of the company's stock valued at $116,000 after acquiring an additional 8,000 shares during the period. Finally, Prosperity Wealth Management Inc. acquired a new position in shares of Mesoblast during the 3rd quarter worth $79,000. Institutional investors and hedge funds 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.