Mesoblast (NASDAQ:MESO) Trading Up 8.2% – Still a Buy?

Mesoblast Limited (NASDAQ:MESO)’s share price shot up 8.2% during trading on Wednesday . The stock traded as high as $18.07 and last traded at $18.1190. Approximately 84,807 shares traded hands during trading, a decline of 62% from the average session volume of 225,562 shares. The stock had previously closed at $16.74.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Mesoblast Trading Up 7.4%

The company has a market cap of $2.33 billion, a price-to-earnings ratio of -64.21 and a beta of 2.08. The company’s 50 day moving average price is $14.63 and its 200 day moving average price is $15.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.41 and a current ratio of 1.58.

Hedge Funds Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Mesoblast by 14.1% in the 2nd quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock worth $100,000 after acquiring an additional 916 shares during the period. Bank of America Corp DE raised its stake 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 lifted its holdings in shares of 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 acquiring an additional 4,827 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Mesoblast during the fourth quarter worth about $32,000. Finally, Quadrature Capital Ltd acquired a new stake in Mesoblast in the 4th quarter valued at $479,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.