Short Interest in Mesoblast Limited (NASDAQ:MESO) Drops By 69.4%

Mesoblast Limited (NASDAQ:MESO) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 716,100 shares, a decrease of 69.4% from the March 31st total of 2,340,000 shares. Based on an average trading volume of 2,160,000 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MESO shares. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. 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 given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mesoblast has a consensus rating of “Hold” and an average target price of $13.67.

Mesoblast Stock Down 1.1 %

Shares of NASDAQ MESO traded down $0.07 during mid-day trading on Thursday, hitting $6.15. 239,712 shares of the company were exchanged, compared to its average volume of 1,797,351. Mesoblast has a 1-year low of $1.61 and a 1-year high of $10.24. The stock has a 50 day simple moving average of $3.63 and a 200-day simple moving average of $2.69. The firm has a market cap of $701.53 million, a price-to-earnings ratio of -5.49 and a beta of 3.60.

Institutional Investors Weigh In On Mesoblast

An institutional investor recently raised its position in Mesoblast stock. Lazari Capital Management Inc. raised its holdings in Mesoblast Limited (NASDAQ:MESO) by 9.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,034 shares of the company’s stock after acquiring an additional 8,000 shares during the quarter. Lazari Capital Management Inc. owned 0.06% of Mesoblast worth $116,000 as of its most recent filing with the SEC. 1.43% of the stock is owned by institutional investors and hedge funds.

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.