Mesoblast (NASDAQ:MESO) Shares Gap Down – What’s Next?

Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Friday . The stock had previously closed at $11.32, but opened at $10.50. Mesoblast shares last traded at $10.33, with a volume of 83,418 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MESO shares. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, September 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research note on Thursday, August 29th. Finally, Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Stock Down 11.3 %

The stock has a 50-day simple moving average of $8.54 and a two-hundred day simple moving average of $7.59. 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MESO. Marshall Wace LLP purchased a new stake in Mesoblast during the 2nd quarter valued at $562,000. XY Capital Ltd bought a new stake in shares of Mesoblast in the third quarter worth $244,000. Jane Street Group LLC increased its position in Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock valued at $695,000 after acquiring an additional 26,959 shares during the last quarter. Creative Planning purchased a new stake in Mesoblast during the third quarter valued at $147,000. Finally, XTX Topco Ltd bought a new position in Mesoblast in the second quarter valued at about $103,000. 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.