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

Shares of Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Wednesday . The stock had previously closed at $11.20, but opened at $10.67. Mesoblast shares last traded at $10.75, with a volume of 25,582 shares.

Wall Street Analyst Weigh In

MESO has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research note on Thursday, August 29th. Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, September 24th. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Finally, StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Trading Down 6.1 %

The business’s fifty day moving average price is $10.01 and its 200-day moving average price is $8.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Institutional Investors Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Chapin Davis Inc. increased its stake in Mesoblast by 50.0% in the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after acquiring an additional 5,000 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in shares of Mesoblast in the second quarter worth approximately $80,000. Rathbones Group PLC bought a new position in shares of Mesoblast in the second quarter worth approximately $95,000. XTX Topco Ltd purchased a new stake in Mesoblast in the second quarter valued at approximately $103,000. Finally, Marshall Wace LLP bought a new stake in Mesoblast during the second quarter valued at approximately $562,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.