Mesoblast (NASDAQ:MESO) Hits New 12-Month Low - Here's Why

Key Points

• Mesoblast shares hit a new 52-week low of $12.94, closing near $13.21 versus the previous close of $13.95. The stock is trading below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with two Buy ratings and one Sell rating, producing an overall “Hold” consensus and an average price target of $39.00.
• Mesoblast reported a quarterly loss of $0.07 per share on $34.45 million in revenue. Institutional ownership remains limited at 1.43%, despite several funds increasing their positions.

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s stock price hit a new 52-week low during trading on Friday. The stock traded as low as $12.94 and last traded at $13.21, with a volume of 409,501 shares traded. The stock had previously closed at $13.95.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings upgraded Mesoblast from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, October 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Mesoblast in a research report on Thursday, September 24th. Finally, Piper Sandler reissued an "overweight" rating and issued a $39.00 target price (up from $35.00) on shares of Mesoblast in a report on Thursday, August 27th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.00.

Mesoblast Price Performance

The stock's 50-day moving average is $15.71 and its 200 day moving average is $15.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.43 and a quick ratio of 2.09.

Mesoblast (NASDAQ:MESO - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $34.45 million during the quarter. On average, sell-side analysts anticipate that Mesoblast Limited will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mesoblast

Several institutional investors and hedge funds have recently made changes to their positions in MESO. Bank of America Corp DE lifted its holdings in shares of Mesoblast by 608.4% in the first quarter. Bank of America Corp DE now owns 100,004 shares of the company's stock valued at $1,538,000 after purchasing an additional 85,888 shares in the last quarter. Royal Bank of Canada increased its position in Mesoblast by 22.5% during the 1st quarter. Royal Bank of Canada now owns 26,266 shares of the company's stock worth $404,000 after purchasing an additional 4,827 shares in the last quarter. GAMMA Investing LLC increased its position in Mesoblast by 14.1% during the 2nd quarter. GAMMA Investing LLC now owns 7,413 shares of the company's stock worth $100,000 after purchasing an additional 916 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Mesoblast in the 4th quarter valued at about $32,000. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

Mesoblast Company Profile

Mesoblast Limited is a regenerative medicine company that develops and commercializes cellular medicines for serious inflammatory and immune-mediated conditions. The company's platform is based primarily on specialized allogeneic mesenchymal lineage precursor cells, which are obtained from healthy adult donors and developed for use without patient-specific matching.

Mesoblast's lead commercial product, Ryoncil (remestemcel-L), is an off-the-shelf cell therapy approved in the United States for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients.

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