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

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $14.63, but opened at $15.72. Mesoblast shares last traded at $15.86, with a volume of 218,619 shares traded.

Wall Street Analyst Weigh In

MESO has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday. Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, September 24th. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, Piper Sandler upped their price target on shares of Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.50.

Mesoblast Price Performance

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $10.77 and its 200 day moving average price is $8.44.

Institutional Investors Weigh In On Mesoblast

A number of large investors have recently bought and sold shares of MESO. Perkins Coie Trust Co boosted its position in shares of Mesoblast by 15.0% during the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after purchasing an additional 1,500 shares in the last quarter. Signaturefd LLC boosted its holdings in Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after acquiring an additional 3,099 shares in the last quarter. Lazari Capital Management Inc. grew its stake in Mesoblast by 6.6% in the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock valued at $364,000 after acquiring an additional 3,300 shares during the period. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Mesoblast during the second quarter valued at approximately $80,000. Finally, Rathbones Group PLC acquired a new position in shares of Mesoblast during the second quarter worth approximately $95,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.