Mesoblast (NASDAQ:MESO) Trading Down 8.8% – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s share price was down 8.8% on Friday . The stock traded as low as $13.05 and last traded at $13.2250. 71,022 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 222,386 shares. The stock had previously closed at $14.50.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Mesoblast Stock Performance

The company has a current ratio of 1.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $14.94 and a two-hundred day moving average price of $16.19. The stock has a market capitalization of $1.71 billion, a P/E ratio of -24.43 and a beta of 2.05.

Insider Transactions at Mesoblast

In other Mesoblast news, Director Gregory George purchased 4,000,000 shares of the business’s stock in a transaction on Saturday, April 4th. The shares were purchased at an average cost of $1.42 per share, for a total transaction of $5,680,000.00. Following the acquisition, the director owned 12,000,000 shares of the company’s stock, valued at approximately $17,040,000. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 9,892,852 shares of company stock valued at $28,429,183 over the last quarter. 18.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mesoblast

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new position in shares of Mesoblast during the first quarter valued at about $3,209,000. Creative Planning acquired a new position in Mesoblast during the 2nd quarter worth approximately $141,000. Raymond James Financial Inc. bought a new position in Mesoblast in the second quarter worth approximately $86,000. JPMorgan Chase & Co. grew its stake in Mesoblast by 55.6% in the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock valued at $46,000 after acquiring an additional 1,012 shares during the period. Finally, JFS Wealth Advisors LLC acquired a new stake in Mesoblast in the third quarter valued at approximately $54,000. 1.43% of the stock is 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.