Mesoblast (NASDAQ:MESO) Shares Gap Down – Should You Sell?

Mesoblast Limited (NASDAQ:MESO) shares gapped down before the market opened on Friday . The stock had previously closed at $10.40, but opened at $9.95. Mesoblast shares last traded at $9.96, with a volume of 31,208 shares.

Analyst Ratings Changes

A number of research analysts recently weighed in on MESO shares. Jefferies Financial Group lowered shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a report on Monday, March 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $24.00 price target (up previously from $15.00) on shares of Mesoblast in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Mesoblast Stock Down 4.4 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The business has a 50-day moving average of $14.64 and a 200-day moving average of $13.46.

Hedge Funds Weigh In On Mesoblast

A number of large investors have recently made changes to their positions in MESO. R Squared Ltd purchased a new stake in Mesoblast in the 4th quarter worth about $30,000. Barclays PLC purchased a new stake in shares of Mesoblast in the fourth quarter worth approximately $38,000. Lindbrook Capital LLC lifted its stake in shares of Mesoblast by 70.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock worth $43,000 after acquiring an additional 901 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Mesoblast during the 4th quarter valued at $50,000. Finally, BNP Paribas Financial Markets grew its position in Mesoblast by 86,566.7% in the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock valued at $51,000 after acquiring an additional 2,597 shares during the last quarter. 1.43% of the stock is owned by hedge funds and other institutional investors.

Mesoblast Company Profile

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.