Mesoblast (NASDAQ:MESO) Shares Gap Up – Time to Buy?

Mesoblast Limited (NASDAQ:MESO)’s share price gapped up prior to trading on Friday . The stock had previously closed at $15.54, but opened at $16.30. Mesoblast shares last traded at $16.58, with a volume of 104,458 shares traded.

Analyst Upgrades and Downgrades

MESO has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $24.00 price objective (up from $15.00) on shares of Mesoblast in a research report on Friday, February 7th. Jefferies Financial Group lowered shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. Finally, Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Mesoblast Price Performance

The firm’s 50 day moving average is $18.07 and its two-hundred day moving average is $12.11. 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 Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in shares of Mesoblast during the 4th quarter valued at about $2,744,000. Jane Street Group LLC increased its position in Mesoblast by 46.4% during the 3rd quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after purchasing an additional 26,959 shares in the last quarter. Clayton Financial Group LLC acquired a new stake in Mesoblast during the 4th quarter worth approximately $275,000. Ballentine Partners LLC acquired a new stake in Mesoblast during the 4th quarter worth approximately $222,000. Finally, Creative Planning acquired a new stake in Mesoblast during the 3rd quarter worth approximately $147,000. 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.