Mesoblast (NASDAQ:MESO) Shares Gap Up to $6.22

Mesoblast Limited (NASDAQ:MESO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $6.22, but opened at $6.65. Mesoblast shares last traded at $6.34, with a volume of 16,443 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MESO. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $4.00 to $11.00 in a research note on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Finally, StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

Mesoblast Stock Down 1.6 %

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $698.78 million, a P/E ratio of -5.55 and a beta of 3.47. The stock’s 50-day simple moving average is $6.75 and its 200-day simple moving average is $6.17.

Hedge Funds Weigh In On Mesoblast

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after acquiring an additional 1,663 shares during the period. Perkins Coie Trust Co bought a new stake in shares of Mesoblast during the 2nd quarter worth $68,000. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Mesoblast during the 2nd quarter worth $80,000. Rathbones Group PLC purchased a new position in shares of Mesoblast in the 2nd quarter worth about $95,000. Finally, Chapin Davis Inc. grew its position in Mesoblast by 50.0% during the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after buying an additional 5,000 shares during the period. 1.43% of the stock is owned by institutional investors.

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.