Mesoblast (NASDAQ:MESO) Shares Gap Down - Here's What Happened

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $20.61, but opened at $20.10. Mesoblast shares last traded at $20.35, with a volume of 22,431 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MESO. Piper Sandler lifted their price target on shares of Mesoblast from $11.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, December 19th. Maxim Group upgraded Mesoblast from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group cut Mesoblast from a "buy" rating to a "hold" rating in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $13.50.

Mesoblast Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18. The stock's 50 day moving average price is $12.36 and its two-hundred day moving average price is $9.09.

Hedge Funds Weigh In On Mesoblast

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in Mesoblast during the second quarter worth approximately $562,000. XY Capital Ltd purchased a new position in shares of Mesoblast during the 3rd quarter worth $244,000. Jane Street Group LLC boosted its holdings in shares of Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company's stock worth $695,000 after purchasing an additional 26,959 shares during the last quarter. Creative Planning purchased a new stake in shares of Mesoblast in the third quarter valued at $147,000. Finally, XTX Topco Ltd acquired a new position in Mesoblast in the second quarter valued at $103,000. 1.43% of the stock is owned by institutional investors and hedge funds.

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.