Mesoblast (NASDAQ:MESO) Stock Price Down 7.9%

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

Analyst Upgrades and Downgrades

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

Mesoblast Stock Down 5.5 %

The company has a fifty day moving average price of $4.54 and a 200-day moving average price of $2.99. The stock has a market capitalization of $858.63 million, a P/E ratio of -6.56 and a beta of 3.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MESO. Lazari Capital Management Inc. raised its position in shares of Mesoblast by 9.3% during the 3rd quarter. Lazari Capital Management Inc. now owns 94,034 shares of the company’s stock valued at $116,000 after buying an additional 8,000 shares in the last quarter. Prosperity Wealth Management Inc. bought a new stake in shares of Mesoblast in the 3rd quarter valued at approximately $79,000. Finally, Chase Investment Counsel Corp bought a new position in shares of Mesoblast during the 1st quarter valued at approximately $298,000. 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.