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

Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened on Monday . The stock had previously closed at $14.63, but opened at $15.72. Mesoblast shares last traded at $15.86, with a volume of 218,619 shares changing hands.

Wall Street Analysts Forecast Growth

MESO has been the topic of several recent research reports. Piper Sandler raised their price target on shares of Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group cut Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday. Maxim Group raised Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, September 24th. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Mesoblast presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Mesoblast Trading Down 1.2 %

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $10.77 and its 200 day simple moving average is $8.44.

Institutional Investors Weigh In On Mesoblast

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC increased its holdings in Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after acquiring an additional 3,099 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Mesoblast during the 2nd quarter valued at $80,000. Perkins Coie Trust Co increased its holdings in shares of Mesoblast by 15.0% in the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after purchasing an additional 1,500 shares during the period. Rathbones Group PLC purchased a new stake in shares of Mesoblast in the second quarter worth $95,000. Finally, XTX Topco Ltd bought a new stake in Mesoblast during the second quarter valued at $103,000. 1.43% of the stock is owned by hedge funds and other 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.