Mesoblast (NASDAQ:MESO) Trading Down 7.9%

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

Analysts Set New Price Targets

A number of research firms have weighed in on MESO. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.67.

Mesoblast Stock Down 5.5 %

The business has a 50-day moving average price of $4.54 and a two-hundred day moving average price of $2.99. The company has a market capitalization of $858.63 million, a price-to-earnings ratio of -6.56 and a beta of 3.45.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Prosperity Wealth Management Inc. purchased a new position in Mesoblast during the 3rd quarter worth $79,000. Lazari Capital Management Inc. lifted its position in shares of Mesoblast by 9.3% during the third quarter. Lazari Capital Management Inc. now owns 94,034 shares of the company’s stock valued at $116,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Chase Investment Counsel Corp purchased a new position in Mesoblast during the first quarter worth about $298,000. Institutional investors own 1.43% of the company’s stock.

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.