Mesoblast (NASDAQ:MESO) Stock Price Down 7.9%

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s share price was down 7.9% during mid-day trading on Wednesday . The stock traded as low as $7.24 and last traded at $7.33. Approximately 129,080 shares traded hands during trading, a decline of 92% from the average daily volume of 1,648,139 shares. The stock had previously closed at $7.96.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MESO shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Mesoblast in a research report on Friday, January 12th. StockNews.com cut shares of Mesoblast from a "hold" rating to a "sell" rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Mesoblast presently has an average rating of "Hold" and a consensus price target of $13.67.

Mesoblast Stock Down 4.6 %

The stock has a market capitalization of $866.63 million, a PE ratio of -6.78 and a beta of 3.45. The business's 50-day moving average is $4.65 and its two-hundred day moving average is $3.02.

Institutional Investors Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently bought and sold shares of MESO. Prosperity Wealth Management Inc. purchased a new stake in shares of Mesoblast in the third quarter valued at about $79,000. Lazari Capital Management Inc. raised its holdings in shares of 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 buying an additional 8,000 shares during the last quarter. Finally, Chase Investment Counsel Corp purchased a new stake in shares of Mesoblast in the first quarter valued at about $298,000. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.