Mesoblast (NASDAQ:MESO) Shares Gap Up – Still a Buy?

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Tuesday . The stock had previously closed at $10.84, but opened at $11.12. Mesoblast shares last traded at $11.29, with a volume of 37,431 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, September 24th. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Jefferies Financial Group raised Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.50.

Mesoblast Stock Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The stock’s 50-day moving average price is $9.95 and its 200 day moving average price is $8.00.

Institutional Trading of Mesoblast

A number of hedge funds have recently bought and sold shares of MESO. GAMMA Investing LLC grew its holdings in shares of Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares in the last quarter. Signaturefd LLC increased its holdings in 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 buying an additional 3,099 shares during the period. Perkins Coie Trust Co raised its stake in shares of Mesoblast by 15.0% in the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after buying an additional 1,500 shares in the last quarter. Pine Valley Investments Ltd Liability Co acquired a new position in shares of Mesoblast in the 2nd quarter valued at $80,000. Finally, Rathbones Group PLC acquired a new stake in shares of Mesoblast during the 2nd quarter valued at about $95,000. 1.43% of the stock is 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.