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

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped down before the market opened 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.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MESO. Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, September 24th. Jefferies Financial Group lowered shares of Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Piper Sandler lifted 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.50.

Mesoblast Stock Performance

The stock’s 50-day moving average price is $13.76 and its 200 day moving average price is $9.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Mesoblast

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC increased its holdings in shares of Mesoblast by 46.4% in the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock valued at $695,000 after purchasing an additional 26,959 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Mesoblast in the second quarter valued at about $562,000. Signaturefd LLC grew its stake 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 acquiring an additional 3,099 shares in the last quarter. Rathbones Group PLC acquired a new position in shares of Mesoblast in the second quarter valued at about $95,000. Finally, Creative Planning acquired a new position in shares of Mesoblast in the third quarter valued at about $147,000. 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.