Mesoblast (NASDAQ:MESO) Shares Gap Up to $8.76

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.76, but opened at $9.03. Mesoblast shares last traded at $9.23, with a volume of 60,105 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Maxim Group raised Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, September 24th. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Piper Sandler upgraded shares of Mesoblast from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $4.00 to $11.00 in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Finally, Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day moving average of $6.63 and a 200-day moving average of $6.59. The firm has a market cap of $1.07 billion, a P/E ratio of -8.24 and a beta of 3.47.

Institutional Investors Weigh In On Mesoblast

Institutional investors have recently added to or reduced their stakes in the company. Chase Investment Counsel Corp purchased a new position in shares of Mesoblast in the 1st quarter worth approximately $298,000. GAMMA Investing LLC raised its stake in shares of Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares during the period. Perkins Coie Trust Co purchased a new position in shares of Mesoblast in the 2nd quarter worth about $68,000. Chapin Davis Inc. grew its position in Mesoblast by 50.0% during the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after buying an additional 5,000 shares during the period. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in Mesoblast during the second quarter worth about $80,000. 1.43% of the stock is owned by institutional investors.

About Mesoblast

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.