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

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $11.32, but opened at $10.50. Mesoblast shares last traded at $10.33, with a volume of 83,418 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler upgraded Mesoblast from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Maxim Group upgraded 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. Jefferies Financial Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Mesoblast presently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Stock Performance

The business’s 50-day moving average is $8.47 and its two-hundred day moving average is $7.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in 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 buying an additional 1,663 shares during the period. Marshall Wace LLP acquired a new stake in shares of Mesoblast during the second quarter worth about $562,000. Chapin Davis Inc. lifted its holdings in shares of Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after purchasing an additional 5,000 shares in the last quarter. Rathbones Group PLC acquired a new position in shares of Mesoblast in the 2nd quarter valued at approximately $95,000. Finally, Signaturefd LLC increased its stake in Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after purchasing an additional 3,099 shares in 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.