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

Shares of Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Friday . The stock had previously closed at $17.43, but opened at $16.98. Mesoblast shares last traded at $16.98, with a volume of 39,148 shares.

Wall Street Analyst Weigh In

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

Mesoblast Price Performance

The stock has a market capitalization of $2.21 billion, a PE ratio of -60.71 and a beta of 2.08. The firm’s 50 day simple moving average is $15.35 and its 200 day simple moving average is $15.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.58 and a quick ratio of 1.41.

Hedge Funds Weigh In On Mesoblast

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new stake in Mesoblast during the 3rd quarter valued at about $10,501,000. Goldman Sachs Group Inc. bought a new position in Mesoblast during the 1st quarter worth approximately $3,209,000. Bank of America Corp DE increased its stake in Mesoblast by 791.7% in the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after purchasing an additional 98,960 shares during the period. Brooklyn Investment Group purchased a new position in Mesoblast in the 3rd quarter worth approximately $655,000. Finally, Quadrature Capital Ltd bought a new stake in Mesoblast in the fourth quarter valued at approximately $479,000. Institutional investors own 1.43% of the company’s stock.

About Mesoblast

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.