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

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.07, but opened at $12.66. Mesoblast shares last traded at $13.23, with a volume of 16,737 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $24.00 price objective (up previously from $15.00) on shares of Mesoblast in a research note on Friday, February 7th. Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. Finally, Cantor Fitzgerald upgraded Mesoblast to a “strong-buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Mesoblast Trading Up 2.0 %

The business’s 50 day simple moving average is $17.61 and its 200 day simple moving average is $12.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in Mesoblast by 1,503.3% in the fourth quarter. Bank of America Corp DE now owns 290,728 shares of the company’s stock valued at $5,756,000 after purchasing an additional 272,595 shares during the period. Oaktree Capital Management LP acquired a new position in Mesoblast in the fourth quarter valued at about $3,556,000. Strategic Financial Concepts LLC purchased a new position in Mesoblast during the fourth quarter worth about $2,744,000. Prosperity Wealth Management Inc. boosted its stake in Mesoblast by 2.0% during the fourth quarter. Prosperity Wealth Management Inc. now owns 93,245 shares of the company’s stock worth $1,846,000 after buying an additional 1,795 shares during the period. Finally, Jane Street Group LLC increased its position 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 valued at $695,000 after acquiring an additional 26,959 shares during the last quarter. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.