Mesoblast (NASDAQ:MESO) Sets New 1-Year High – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $11.29 and last traded at $11.05, with a volume of 151395 shares changing hands. The stock had previously closed at $9.95.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MESO. Piper Sandler upgraded Mesoblast from a “neutral” rating to an “overweight” rating and increased their target price for the company from $4.00 to $11.00 in a research note on Tuesday, July 23rd. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Finally, Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, Mesoblast has an average rating of “Moderate Buy” and an average price target of $11.50.

Mesoblast Stock Down 3.3 %

The stock has a fifty day moving average of $8.47 and a two-hundred day moving average of $7.57. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Mesoblast

A number of hedge funds and other institutional investors have recently bought and sold shares of MESO. Marshall Wace LLP acquired a new stake in shares of Mesoblast in the 2nd quarter valued at $562,000. XY Capital Ltd bought a new stake in shares of Mesoblast in the third quarter valued at about $244,000. Creative Planning bought a new stake in shares of Mesoblast in the third quarter valued at about $147,000. XTX Topco Ltd bought a new stake in shares of Mesoblast in the second quarter valued at about $103,000. Finally, Rathbones Group PLC bought a new stake in shares of Mesoblast in the second quarter valued at about $95,000. 1.43% of the stock is 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.