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

Shares of Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Monday . The stock had previously closed at $20.96, but opened at $19.35. Mesoblast shares last traded at $18.6020, with a volume of 53,359 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Mesoblast Trading Down 10.6%

The company’s 50-day moving average is $17.35 and its 200 day moving average is $15.95. The company has a current ratio of 1.99, a quick ratio of 1.77 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.40 billion, a PE ratio of -21.25 and a beta of 2.14.

Institutional Investors Weigh In On Mesoblast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in shares of Mesoblast in the third quarter worth $10,501,000. Goldman Sachs Group Inc. acquired a new position in Mesoblast in the 1st quarter worth about $3,209,000. Summit X LLC raised its stake in shares of Mesoblast by 0.6% during the 2nd quarter. Summit X LLC now owns 199,295 shares of the company’s stock worth $2,170,000 after purchasing an additional 1,132 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Mesoblast by 791.7% during the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after purchasing an additional 98,960 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Mesoblast during the 4th quarter valued at about $839,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.