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

Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Wednesday . The stock had previously closed at $11.20, but opened at $10.67. Mesoblast shares last traded at $10.75, with a volume of 25,582 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock 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. Finally, Jefferies Financial Group raised Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Trading Down 0.5 %

The firm has a fifty day moving average price of $10.06 and a 200-day moving average price of $8.05. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Mesoblast

Several hedge funds have recently bought and sold shares of MESO. Signaturefd LLC increased its stake in Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after acquiring an additional 3,099 shares during the last quarter. Pine Valley Investments Ltd Liability Co acquired a new position in shares of Mesoblast during the 2nd quarter worth $80,000. Perkins Coie Trust Co lifted its position in shares of Mesoblast by 15.0% during the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after buying an additional 1,500 shares during the last quarter. Rathbones Group PLC acquired a new stake in Mesoblast in the second quarter valued at about $95,000. Finally, Chapin Davis Inc. grew its position in Mesoblast by 50.0% in the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after acquiring an additional 5,000 shares during the last quarter. 1.43% of the stock is owned by institutional investors.

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.