Loading companies…

Mesoblast Ltd ASX:MSB

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 4 managers in total.

Position history by manager Showing 3 of 4 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

1 more managers have commented on MSBPro shows the full position history for all 4 managers.

Upgrade to Pro

20252026

31 May 2024 to today

Commentary Showing 2 of 6

DateManagerActionSummary

31 Aug 2026Pengana Capital GroupHeldPengana Capital Group continues to hold Mesoblast Ltd (ASX: MSB) after shares rose 15% following its full-year results and completion of patient recruitment for its Phase 3 chronic back pain study, which is expected to report in mid-2027. Pengana notes Mesoblast is already approved and generating sales in graft-versus-host disease, a small but high-value rare indication. However, Pengana expects back pain and heart disease to become much larger, multibillion-dollar opportunities that could transform the stem-cell company over the coming years.

BiotechnologyMonthly Report, price recorded $2.36

The source document link is a Pro feature

31 Jan 2025NorthStar Impact FundsIncreasedNorthStar Impact Funds increased its position in Mesoblast by participating in a $260 million capital raise at $2.50 per share, with proceeds funding the US commercial launch of Ryoncil for paediatric steroid-refractory acute graft-versus-host disease, accelerating a second Phase III study in inflammatory chronic low back pain, and expanding commercial manufacturing. The fund notes the shares ended January 27% above the placement price and up 220% for the financial year to date, with NorthStar having first invested in Mesoblast in August 2024 at 99 cents.

Monthly Report, price recorded $3.17

The source document link is a Pro feature

4 more comments on MSBPro shows every comment, with a link to each source document.

Upgrade to Pro

First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 4 managers first commented on MSB.

View Pro

Articles

31 Jan 2025Mesoblast MSB Fund Manager Commentary and Investment Thesis

About Mesoblast Ltd

Healthcare, Biotechnology

Mesoblast (ASX:MSB), a cell therapy developer, achieved a major milestone with US approval of its first product. In January 2025, NorthStar Impact Funds participated in Mesoblast's $260 million capital raising at $2.50 per share, funding the US commercial launch of Ryoncil for children with steroid-refractory acute graft-versus-host disease. In December 2024, Pengana and Blackwattle noted the shares surged after the FDA approved Ryoncil, while Tyndall believed the market's reaction may have been overly optimistic. Pengana later reported a 15% rise after Mesoblast completed recruitment for its Phase 3 back pain study, with results expected in mid-2027. Mesoblast operates in the Healthcare sector within the Biotechnology industry, and Thesis Tracker has captured 5 comments from 4 fund managers, including NorthStar, Pengana, Blackwattle and Tyndall. Founded in 2004 by Silviu Itescu and headquartered in Melbourne, Mesoblast develops allogeneic cellular medicines based on mesenchymal lineage cells, with Ryoncil approved in the US and other candidates targeting heart failure and chronic back pain.

Market cap: $2.5b
Price to earnings: Loss-making
Return on equity: -9.9%
Dividend yield: 0.0%
Price to book: 4.02x
Net margin: -47.8%
52-week range: $1.88 to $3.31

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Mesoblast Ltd (ASX:MSB)?

Fund managers including Blackwattle Investment Partners, Pengana Capital Group, Tyndall Asset Management and NorthStar Impact Funds have invested in Mesoblast Ltd (ASX:MSB).

What opportunities or catalysts do fund managers highlight for Mesoblast Ltd?

Fund managers highlight FDA approval of Ryoncil, the first approved mesenchymal stem cell therapy in the US, and a $260 million raise funding its commercial launch, according to NorthStar, Pengana and Blackwattle. Pengana expects chronic back pain and heart disease to become much larger markets than graft-versus-host disease, with Phase 3 back pain results due in mid-2027.

What are the key risks to the Mesoblast Ltd investment thesis, according to fund managers?

Tyndall believes the market may have been overly optimistic about Ryoncil's commercial potential, and Mesoblast's broader pipeline still requires further regulatory approvals.

What does Mesoblast Ltd (ASX:MSB) do?

Mesoblast Ltd. is an Australian biopharmaceutical company founded in 2004 by Silviu Itescu. Headquartered in Melbourne, the company specializes in researching, developing, and commercializing mesenchymal lineage adult stem cell technology. Its clinical pipeline targets therapeutic solutions for cardiovascular diseases, spine orthopedic disorders, oncology, hematology, and immune-mediated inflammatory diseases.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

Disclaimer Terms of Use Privacy Complaints Contact

Loading…