Mesoblast (NASDAQ:MESO) Shares Gap Down – Time to Sell?

Shares of Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Wednesday . The stock had previously closed at $18.04, but opened at $17.07. Mesoblast shares last traded at $17.65, with a volume of 202,085 shares changing hands.

Wall Street Analysts Forecast Growth

MESO has been the subject of several recent analyst reports. Maxim Group upgraded shares of 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. Piper Sandler lifted their target price on shares of Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Mesoblast presently has an average rating of “Hold” and an average target price of $13.50.

Mesoblast Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a fifty day simple moving average of $14.39 and a 200 day simple moving average of $10.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after buying an additional 26,959 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Mesoblast during the 2nd quarter valued at about $562,000. Signaturefd LLC grew its holdings in shares of 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 purchasing an additional 3,099 shares during the period. Creative Planning acquired a new stake in Mesoblast during the third quarter worth about $147,000. Finally, Perkins Coie Trust Co grew its stake in shares of Mesoblast by 15.0% in the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after buying an additional 1,500 shares during the period. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.