Mesoblast (NASDAQ:MESO) Shares Gap Down – What’s Next?

Mesoblast Limited (NASDAQ:MESO)’s stock price 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 traded.

Analysts Set New Price Targets

MESO has been the subject of several research reports. Jefferies Financial Group cut Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. Piper Sandler reiterated an “overweight” rating and issued a $24.00 target price (up 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 research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Mesoblast Trading Down 2.9 %

The stock has a 50-day moving average of $16.21 and a 200 day moving average of $13.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MESO. Cubist Systematic Strategies LLC grew its holdings in shares of Mesoblast by 241.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 35,191 shares of the company’s stock valued at $697,000 after purchasing an additional 24,870 shares during the period. Bank of America Corp DE grew its stake in shares of Mesoblast by 1,503.3% in the 4th quarter. Bank of America Corp DE now owns 290,728 shares of the company’s stock valued at $5,756,000 after buying an additional 272,595 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Mesoblast by 86,566.7% during the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock worth $51,000 after buying an additional 2,597 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Mesoblast during the 4th quarter worth approximately $88,000. Finally, Jump Financial LLC acquired a new position in Mesoblast in the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.