Mesoblast (NASDAQ:MESO) Hits New 12-Month High – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $21.45 and last traded at $20.4250, with a volume of 1141 shares. The stock had previously closed at $19.87.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Mesoblast Price Performance

The firm has a market cap of $2.69 billion, a P/E ratio of -23.82 and a beta of 2.14. The company’s 50-day moving average is $17.35 and its two-hundred day moving average is $15.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.99 and a quick ratio of 1.77.

Institutional Trading of Mesoblast

A number of hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its holdings in Mesoblast by 5.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,047 shares of the company’s stock worth $226,000 after buying an additional 716 shares during the period. Lazari Capital Management Inc. raised its holdings in Mesoblast by 2.2% during the 2nd quarter. Lazari Capital Management Inc. now owns 46,471 shares of the company’s stock valued at $506,000 after acquiring an additional 1,003 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Mesoblast by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after acquiring an additional 1,012 shares in the last quarter. Summit X LLC boosted its holdings in shares of Mesoblast by 0.6% in the second quarter. Summit X LLC now owns 199,295 shares of the company’s stock worth $2,170,000 after acquiring an additional 1,132 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Mesoblast by 33.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 9,124 shares of the company’s stock valued at $99,000 after purchasing an additional 2,302 shares in the last quarter. 1.43% of the stock is currently owned by institutional investors.

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.