Mesoblast (NASDAQ:MESO) Shares Gap Up – Here’s Why

Mesoblast Limited (NASDAQ:MESO) gapped up prior to trading on Tuesday . The stock had previously closed at $12.10, but opened at $12.70. Mesoblast shares last traded at $12.57, with a volume of 24,916 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on MESO. 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 note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Finally, Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Stock Performance

The stock’s 50 day moving average price is $10.12 and its 200 day moving average price is $8.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Institutional Trading of Mesoblast

A number of institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its stake in shares of Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after purchasing an additional 3,099 shares during the period. Pine Valley Investments Ltd Liability Co acquired a new position in Mesoblast in the second quarter valued at approximately $80,000. Perkins Coie Trust Co boosted its holdings 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 in the last quarter. Rathbones Group PLC acquired a new stake in shares of Mesoblast during the 2nd quarter worth approximately $95,000. Finally, XTX Topco Ltd bought a new stake in shares of Mesoblast in the 2nd quarter valued at $103,000. Institutional investors own 1.43% of the company’s stock.

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.