Mesoblast (NASDAQ:MESO) Shares Gap Up – Still a Buy?

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Thursday . The stock had previously closed at $19.80, but opened at $20.81. Mesoblast shares last traded at $21.12, with a volume of 159,945 shares.

Analyst Ratings Changes

Several research firms recently issued reports on MESO. Piper Sandler lifted their price objective on shares of Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Jefferies Financial Group cut Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. Finally, Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Mesoblast has an average rating of “Hold” and an average target price of $13.50.

Mesoblast Trading Down 2.4 %

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $12.36 and its 200-day moving average is $9.09.

Hedge Funds Weigh In On Mesoblast

Several large investors have recently made changes to their positions in MESO. Signaturefd LLC raised its stake in Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after purchasing an additional 3,099 shares during the last quarter. Perkins Coie Trust Co increased its position in shares of Mesoblast by 15.0% during the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after purchasing an additional 1,500 shares during the period. Rathbones Group PLC acquired a new position in shares of Mesoblast in the second quarter valued at $95,000. XTX Topco Ltd bought a new position in Mesoblast in the second quarter worth $103,000. Finally, GAMMA Investing LLC boosted its stake in Mesoblast by 22.1% during the fourth quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock worth $133,000 after buying an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 1.43% of the company’s stock.

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.