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

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

Analysts Set New Price Targets

Several brokerages recently commented on MESO. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Friday, January 12th. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.67.

Institutional Investors Weigh In On Mesoblast

An institutional investor recently raised its position in Mesoblast stock. Lazari Capital Management Inc. raised its holdings in shares of Mesoblast Limited (NASDAQ:MESO) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,034 shares of the company’s stock after buying an additional 8,000 shares during the quarter. Lazari Capital Management Inc. owned about 0.06% of Mesoblast worth $116,000 as of its most recent SEC filing. 1.43% of the stock is currently owned by institutional investors and hedge funds.

Mesoblast Stock Down 1.1 %

Shares of Mesoblast stock traded down $0.07 during trading hours on Thursday, reaching $6.15. 239,712 shares of the company’s stock 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 company has a market capitalization of $701.53 million, a P/E ratio of -5.49 and a beta of 3.60. The business has a fifty day moving average of $3.63 and a two-hundred day moving average of $2.69.

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.