Mesoblast Ltd. (MESO) Trading Down 3.5%
Mesoblast Ltd. (NASDAQ:MESO) fell 3.5% during trading on Tuesday . The stock traded as low as $4.00 and last traded at $4.15, with a volume of 72,936 shares changing hands. The stock had previously closed at $4.30.
Several research firms have recently commented on MESO. Maxim Group restated a “buy” rating on shares of Mesoblast in a report on Saturday, June 4th. Credit Suisse Group AG lowered shares of Mesoblast from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $10.00 to $5.00 in a report on Tuesday, June 14th. Finally, Zacks Investment Research lowered shares of Mesoblast from a “buy” rating to a “sell” rating in a report on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $9.10.
The company has a 50-day moving average of $5.61 and a 200-day moving average of $6.92. The stock’s market capitalization is $296.42 million.
Mesoblast Limited is engaged in the development of adult stem cell technology platform for commercialization. The Company develops a portfolio of regenerative therapeutic cell-based products. Its portfolio of therapeutic products is being developed using its technology platforms, which include specialized cells known as mesenchymal lineage adult stem cells (MLCs), to treat conditions with unmet medical needs, including cardiac diseases, spine and musculoskeletal disorders, oncology and hematology diseases, and immune-mediated and inflammatory conditions.