Mesoblast Limited (NASDAQ:MESO) Short Interest Down 18.9% in July

Mesoblast Limited (NASDAQ:MESO) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 373,300 shares, a drop of 18.9% from the June 30th total of 460,500 shares. Based on an average daily trading volume, of 219,200 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Investors Weigh In On Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in MESO. Chapin Davis Inc. lifted its position in shares of Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after buying an additional 5,000 shares during the last quarter. GAMMA Investing LLC raised its stake in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after acquiring an additional 1,663 shares in the last quarter. Perkins Coie Trust Co bought a new position in shares of Mesoblast in the second quarter worth about $68,000. Finally, Chase Investment Counsel Corp acquired a new stake in shares of Mesoblast in the 1st quarter valued at approximately $298,000. 1.43% of the stock is currently owned by institutional investors.

Mesoblast Stock Performance

Shares of Mesoblast stock traded down $0.32 on Tuesday, reaching $6.47. 215,880 shares of the stock were exchanged, compared to its average volume of 1,086,041. The firm’s 50 day moving average is $7.39 and its 200-day moving average is $5.10. The firm has a market cap of $738.74 million, a PE ratio of -5.79 and a beta of 3.48. Mesoblast has a one year low of $1.61 and a one year high of $8.66.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research report on Thursday, June 20th. Piper Sandler upgraded shares of Mesoblast from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Finally, StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

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.