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

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $9.41, but opened at $9.75. Mesoblast shares last traded at $9.85, with a volume of 7,492 shares changing hands.

Analyst Upgrades and Downgrades

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

Mesoblast Stock Up 5.6 %

The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -8.99 and a beta of 3.47. 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 stock has a fifty day moving average of $7.27 and a two-hundred day moving average of $7.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning acquired a new position in shares of Mesoblast during the third quarter worth about $147,000. Perkins Coie Trust Co lifted its stake in shares of Mesoblast by 15.0% during 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 in the last quarter. Lazari Capital Management Inc. lifted its stake in shares of Mesoblast by 6.6% during the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after purchasing an additional 3,300 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Mesoblast during the second quarter worth about $562,000. Finally, XTX Topco Ltd acquired a new position in shares of Mesoblast during the second quarter worth about $103,000. Institutional investors and hedge funds 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.