Mesoblast (NASDAQ:MESO) Shares Gap Down – Here’s Why

Shares of Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Monday . The stock had previously closed at $10.81, but opened at $10.50. Mesoblast shares last traded at $10.20, with a volume of 113,294 shares changing hands.

Analysts Set New Price Targets

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

Mesoblast Stock Performance

The stock has a market capitalization of $1.09 billion, a PE ratio of -8.53 and a beta of 3.47. The business has a 50 day moving average price of $6.86 and a 200 day moving average price of $6.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Institutional Trading of Mesoblast

Institutional investors have recently added to or reduced their stakes in the business. Chase Investment Counsel Corp bought a new position in Mesoblast during the 1st quarter valued at about $298,000. GAMMA Investing LLC grew its holdings in shares of Mesoblast by 50.1% in 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 during the period. Perkins Coie Trust Co purchased a new position in Mesoblast in the second 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 valued at approximately $80,000. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

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.