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 $12.48, but opened at $12.08. Mesoblast shares last traded at $11.89, with a volume of 37,535 shares trading hands.

Analysts Set New Price Targets

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

Mesoblast Price Performance

The firm’s 50 day moving average is $15.97 and its two-hundred day moving average is $13.28. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Trading of Mesoblast

Several institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC increased its stake in Mesoblast by 70.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock worth $43,000 after buying an additional 901 shares during the period. GAMMA Investing LLC boosted its stake in Mesoblast by 22.1% in the fourth quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock valued at $133,000 after acquiring an additional 1,213 shares during the period. R Squared Ltd acquired a new position in Mesoblast during the 4th quarter valued at approximately $30,000. Prosperity Wealth Management Inc. grew its position in shares of 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 acquiring an additional 1,795 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Mesoblast by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 6,496 shares of the company’s stock worth $129,000 after purchasing an additional 1,891 shares during the last quarter. 1.43% of the stock is owned by hedge funds and other 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.