Mesoblast (NASDAQ:MESO) Shares Down 2.9%

Mesoblast Limited (NASDAQ:MESO) shares traded down 2.9% on Thursday . The company traded as low as $5.54 and last traded at $5.63. 67,230 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 2,001,440 shares. The stock had previously closed at $5.80.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.67.

Mesoblast Price Performance

The company’s 50 day simple moving average is $3.06 and its 200 day simple moving average is $2.52.

Institutional Investors Weigh In On Mesoblast

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EWA LLC purchased a new stake in Mesoblast in the 1st quarter valued at about $40,000. Envestnet Asset Management Inc. bought a new position in shares of Mesoblast during the 3rd quarter valued at approximately $33,000. Vident Investment Advisory LLC grew its position in shares of Mesoblast by 12.8% during the 4th quarter. Vident Investment Advisory LLC now owns 28,080 shares of the company’s stock valued at $82,000 after acquiring an additional 3,191 shares during the period. Marshall Wace LLP bought a new position in shares of Mesoblast during the 4th quarter valued at approximately $85,000. Finally, Millennium Management LLC grew its position in shares of Mesoblast by 132.6% during the 2nd quarter. Millennium Management LLC now owns 42,690 shares of the company’s stock valued at $95,000 after acquiring an additional 24,336 shares during the period. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.