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

Mesoblast Limited (NASDAQ:MESO)’s stock price 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MESO. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a research report 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 objective on the stock in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Trading Down 0.7 %

The stock has a 50 day moving average of $8.89 and a 200 day moving average of $7.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Mesoblast by 50.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after buying an additional 1,663 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after purchasing an additional 3,099 shares in the last quarter. Perkins Coie Trust Co bought a new position in shares of Mesoblast during the 2nd quarter valued at $68,000. Pine Valley Investments Ltd Liability Co purchased a new position in Mesoblast in the 2nd quarter worth $80,000. Finally, Rathbones Group PLC bought a new stake in Mesoblast in the second quarter worth $95,000. 1.43% of the stock is currently owned by institutional investors.

About Mesoblast

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.