Mesoblast (NASDAQ:MESO) Shares Gap Down – Should You Sell?

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $18.04, but opened at $17.07. Mesoblast shares last traded at $17.65, with a volume of 202,085 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MESO. Jefferies Financial Group lowered shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, September 24th. Finally, Piper Sandler upped their price target on Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.50.

Mesoblast Stock Performance

The company’s 50 day simple moving average is $14.39 and its 200 day simple moving average is $10.00. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Mesoblast

Several large investors have recently modified their holdings of MESO. Signaturefd LLC grew its position in Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after buying an additional 3,099 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 1,213 shares during the period. Ballentine Partners LLC purchased a new position in Mesoblast during the fourth quarter worth about $222,000. Perkins Coie Trust Co lifted its position in Mesoblast by 15.0% in 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. Finally, XTX Topco Ltd purchased a new position in shares of Mesoblast in the second quarter valued at $103,000. 1.43% of the stock is owned by institutional investors and hedge funds.

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.