Mesoblast (MESO) stock drops 11% as traders digest insider buy and Ryoncil sales backdrop
Mesoblast ADS fell about 11% to $18.64 in U.S. afternoon trading Monday. An Australian filing showed director Lyn Cobley bought 30,000 shares on Jan. 9. The drop followed a preliminary report of a 60% jump in Ryoncil sales to $35.1 million for the quarter. Trading volume rose as investors awaited the company’s next earnings update.