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

Mesoblast Limited (NASDAQ:MESO) gapped down prior to trading on Thursday . The stock had previously closed at $10.33, but opened at $10.00. Mesoblast shares last traded at $10.10, with a volume of 40,195 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Jefferies Financial Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Finally, Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Price Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The firm’s 50 day simple moving average is $8.81 and its 200-day simple moving average is $7.66.

Institutional Investors Weigh In On Mesoblast

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares in the last quarter. Signaturefd LLC increased its holdings in Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after buying an additional 3,099 shares in the last quarter. Perkins Coie Trust Co purchased a new position in Mesoblast in the second quarter valued at about $68,000. Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Mesoblast in the second quarter valued at approximately $80,000. Finally, Rathbones Group PLC acquired a new stake in Mesoblast during the second quarter worth approximately $95,000. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.