Mesoblast (NASDAQ:MESO) Shares Up 7.9%

Mesoblast Limited (NASDAQ:MESO)’s share price shot up 7.9% during mid-day trading on Wednesday . The company traded as high as $5.16 and last traded at $5.06. 196,286 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,913,120 shares. The stock had previously closed at $4.69.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.67.

Mesoblast Stock Performance

The business’s 50-day moving average is $3.32 and its 200-day moving average is $2.59.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MESO. Vident Investment Advisory LLC raised its holdings in Mesoblast by 12.8% in the fourth quarter. Vident Investment Advisory LLC now owns 28,080 shares of the company’s stock worth $82,000 after buying an additional 3,191 shares during the last quarter. Lazari Capital Management Inc. raised 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 worth $116,000 after buying an additional 8,000 shares during the last quarter. EWA LLC purchased a new position in Mesoblast in the first quarter worth about $40,000. Envestnet Asset Management Inc. raised its holdings in Mesoblast by 99.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,008 shares of the company’s stock worth $76,000 after buying an additional 12,954 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Mesoblast by 55.0% in the second quarter. Wells Fargo & Company MN now owns 52,813 shares of the company’s stock worth $206,000 after buying an additional 18,747 shares during the last quarter. 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.