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

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Monday . The stock had previously closed at $15.60, but opened at $17.21. Mesoblast shares last traded at $17.1320, with a volume of 111,460 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Mesoblast currently has a consensus rating of “Sell”.

Mesoblast Price Performance

The business’s fifty day moving average is $15.10 and its 200-day moving average is $15.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.58 and a quick ratio of 1.41. The firm has a market cap of $2.24 billion, a PE ratio of -61.61 and a beta of 2.08.

Institutional Investors Weigh In On Mesoblast

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in Mesoblast in the fourth quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in Mesoblast by 30.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock worth $43,000 after buying an additional 558 shares during the last quarter. JPMorgan Chase & Co. increased its position in Mesoblast by 55.6% in the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after buying an additional 1,012 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Mesoblast in the second quarter valued at $86,000. Finally, NBC Securities Inc. bought a new stake in shares of Mesoblast in the fourth quarter valued at $89,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.