Mesoblast (NASDAQ:MESO) Shares Down 8.8% – What’s Next?

Shares of Mesoblast Limited (NASDAQ:MESO) traded down 8.8% on Friday . The stock traded as low as $13.05 and last traded at $13.2250. Approximately 71,022 shares changed hands during trading, a decline of 68% from the average daily volume of 222,386 shares. The stock had previously closed at $14.50.

Analyst Ratings Changes

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

Mesoblast Stock Performance

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -24.43 and a beta of 2.05. The stock has a 50 day moving average of $14.94 and a 200 day moving average of $16.19. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10.

Insider Activity

In other news, Director Gregory George acquired 2,324,072 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average cost of $1.48 per share, with a total value of $3,439,626.56. Following the completion of the purchase, the director directly owned 8,324,072 shares of the company’s stock, valued at $12,319,626.56. The trade was a 38.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have purchased 9,892,852 shares of company stock worth $28,429,183. Company insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc bought a new stake in shares of Mesoblast during the 3rd quarter worth $10,501,000. Goldman Sachs Group Inc. bought a new stake in Mesoblast during the 1st quarter worth $3,209,000. Bank of America Corp DE increased its holdings in Mesoblast by 791.7% in the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after purchasing an additional 98,960 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Mesoblast in the fourth quarter valued at about $839,000. Finally, Brooklyn Investment Group bought a new stake in shares of Mesoblast during the third quarter worth about $655,000. Institutional investors 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.