Mesoblast (NASDAQ:MESO) Shares Gap Down – Time to Sell?

Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Tuesday . The stock had previously closed at $12.48, but opened at $12.08. Mesoblast shares last traded at $11.89, with a volume of 37,535 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $24.00 price target (up from $15.00) on shares of Mesoblast in a report on Friday, February 7th. Finally, Cantor Fitzgerald upgraded Mesoblast to a “strong-buy” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Mesoblast Stock Down 2.9 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18. The firm’s fifty day moving average price is $16.21 and its two-hundred day moving average price is $13.25.

Institutional Inflows and Outflows

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