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

Mesoblast Limited (NASDAQ:MESO)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $17.18, but opened at $16.19. Mesoblast shares last traded at $16.35, with a volume of 120,019 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, September 24th. Jefferies Financial Group cut shares of Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Piper Sandler boosted their price objective 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. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Mesoblast has a consensus rating of “Hold” and a consensus price target of $13.50.

Mesoblast Stock Down 3.1 %

The company’s 50 day moving average is $13.42 and its 200 day moving average is $9.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Several large investors have recently bought and sold shares of MESO. Rathbones Group PLC acquired a new position in Mesoblast during the 2nd quarter valued at $95,000. XTX Topco Ltd bought a new stake in Mesoblast in the second quarter valued at about $103,000. Marshall Wace LLP bought a new stake in Mesoblast in the second quarter valued at about $562,000. Lazari Capital Management Inc. increased its stake in 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. Finally, Perkins Coie Trust Co increased its stake in Mesoblast by 15.0% in the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after acquiring an additional 1,500 shares during the period. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.