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

Shares of Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened on Monday . The stock had previously closed at $15.95, but opened at $16.68. Mesoblast shares last traded at $16.88, with a volume of 52,987 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mesoblast presently has an average rating of “Moderate Buy”.

Mesoblast Price Performance

The stock has a fifty day moving average of $18.19 and a 200-day moving average of $16.76. The firm has a market capitalization of $2.17 billion, a P/E ratio of -19.07 and a beta of 2.15. The company has a quick ratio of 1.77, a current ratio of 1.99 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in Mesoblast by 4.2% in the 4th quarter. Legal & General Group Plc now owns 679,023 shares of the company’s stock valued at $12,237,000 after buying an additional 27,607 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Mesoblast during the first quarter valued at $3,209,000. Summit X LLC boosted its holdings in Mesoblast by 0.6% in 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. Bank of America Corp DE raised its holdings in 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 during the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in Mesoblast during the 4th quarter worth about $839,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

About Mesoblast

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.