Mesoblast (NASDAQ:MESO) Shares Gap Up – Still a Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) gapped up prior to trading on Friday . The stock had previously closed at $17.02, but opened at $18.23. Mesoblast shares last traded at $18.43, with a volume of 122,101 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research note on Saturday, September 27th. Canaccord Genuity Group raised Mesoblast to a “strong-buy” rating in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Mesoblast Stock Performance

The company has a quick ratio of 1.77, a current ratio of 1.99 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $15.48 and a two-hundred day moving average price of $12.98.

Institutional Trading of Mesoblast

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new stake in shares of Mesoblast during the first quarter valued at approximately $3,209,000. Summit X LLC increased its position in shares of Mesoblast by 0.6% during the second quarter. Summit X LLC now owns 199,295 shares of the company’s stock valued at $2,170,000 after acquiring an additional 1,132 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Mesoblast by 1,174.2% during the first quarter. GAMMA Investing LLC now owns 85,513 shares of the company’s stock valued at $1,067,000 after acquiring an additional 78,802 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Mesoblast by 104.3% during the first quarter. Cubist Systematic Strategies LLC now owns 71,891 shares of the company’s stock valued at $897,000 after acquiring an additional 36,700 shares during the last quarter. Finally, Lazari Capital Management Inc. increased its position in shares of Mesoblast by 2.2% during the second quarter. Lazari Capital Management Inc. now owns 46,471 shares of the company’s stock valued at $506,000 after acquiring an additional 1,003 shares during the last quarter. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.