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

Mesoblast Limited (NASDAQ:MESO) gapped down prior to trading on Tuesday . The stock had previously closed at $17.18, but opened at $16.19. Mesoblast shares last traded at $16.35, with a volume of 120,019 shares trading hands.

Analyst Upgrades and Downgrades

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

Mesoblast Trading Down 3.1 %

The stock’s 50-day moving average price is $13.42 and its 200-day moving average price is $9.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Large investors have recently modified their holdings of the stock. Jane Street Group LLC raised its stake in shares of Mesoblast by 46.4% during the third 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. Marshall Wace LLP bought a new stake in shares of Mesoblast during the second quarter worth approximately $562,000. Signaturefd LLC raised its stake in shares of Mesoblast by 128.7% during the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after buying an additional 3,099 shares during the last quarter. Rathbones Group PLC bought a new stake in shares of Mesoblast during the second quarter worth approximately $95,000. Finally, Creative Planning bought a new stake in shares of Mesoblast during the third quarter worth approximately $147,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

Mesoblast Company Profile

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.