Mesoblast (NASDAQ:MESO) Shares Gap Down – Should You Sell?

Mesoblast Limited (NASDAQ:MESO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $20.61, but opened at $20.10. Mesoblast shares last traded at $20.35, with a volume of 22,431 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Maxim Group upgraded 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. Piper Sandler raised their target price on shares of Mesoblast from $11.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.50.

Mesoblast Price Performance

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 firm’s 50 day moving average is $12.12 and its two-hundred day moving average is $9.00.

Hedge Funds Weigh In On Mesoblast

A number of institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of Mesoblast during the 2nd quarter worth $562,000. XY Capital Ltd purchased a new position in Mesoblast during the third quarter worth about $244,000. Jane Street Group LLC boosted its stake in Mesoblast by 46.4% in the 3rd quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after buying an additional 26,959 shares during the last quarter. Creative Planning acquired a new position in shares of Mesoblast during the 3rd quarter valued at about $147,000. Finally, XTX Topco Ltd purchased a new position in shares of Mesoblast during the 2nd 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.