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

Mesoblast Limited (NASDAQ:MESO) shares gapped down prior to trading on Friday . The stock had previously closed at $10.40, but opened at $9.95. Mesoblast shares last traded at $9.96, with a volume of 31,208 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MESO. Cantor Fitzgerald raised shares of Mesoblast to a “strong-buy” rating in a research report on Monday, March 31st. Piper Sandler restated an “overweight” rating and issued a $24.00 price target (up previously from $15.00) on shares of Mesoblast in a research report on Friday, February 7th. Finally, Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Mesoblast Stock Down 4.4 %

The stock has a 50 day simple moving average of $14.64 and a 200-day simple moving average of $13.46. 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 Trading of Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in MESO. R Squared Ltd purchased a new stake in Mesoblast during the 4th quarter valued at approximately $30,000. Barclays PLC purchased a new position in Mesoblast during the fourth quarter valued at $38,000. Lindbrook Capital LLC increased its holdings in Mesoblast by 70.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock valued at $43,000 after acquiring an additional 901 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Mesoblast in the 4th quarter worth $50,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Mesoblast by 86,566.7% during the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock valued at $51,000 after purchasing an additional 2,597 shares during the last quarter. Institutional investors 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.