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

Mesoblast Limited (NASDAQ:MESO)’s share price gapped up before the market opened on Monday . The stock had previously closed at $10.11, but opened at $10.75. Mesoblast shares last traded at $10.84, with a volume of 36,915 shares changing hands.

Analyst Upgrades and Downgrades

MESO has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, September 24th. Finally, StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Trading Up 8.7 %

The firm’s 50-day moving average is $8.97 and its two-hundred day moving average is $7.69. 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 Investors Weigh In On Mesoblast

Several large investors have recently bought and sold shares of the business. Jane Street Group LLC increased its position in Mesoblast by 46.4% in the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after purchasing an additional 26,959 shares during the last quarter. Marshall Wace LLP bought a new position in Mesoblast during the second quarter valued at $562,000. Lazari Capital Management Inc. raised its stake in shares of Mesoblast by 6.6% in the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock valued at $364,000 after acquiring an additional 3,300 shares during the period. XY Capital Ltd bought a new stake in shares of Mesoblast in the 3rd quarter worth about $244,000. Finally, Creative Planning purchased a new position in shares of Mesoblast during the 3rd quarter worth about $147,000. 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.