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

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $20.40, but opened at $19.08. Mesoblast shares last traded at $18.84, with a volume of 62,399 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $24.00 price objective (up from $15.00) on shares of Mesoblast in a report on Friday. Jefferies Financial Group downgraded Mesoblast from a "buy" rating to a "hold" rating in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald upgraded shares of Mesoblast to a "strong-buy" rating in a research note on Thursday, January 30th. 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Mesoblast Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $16.48 and a 200-day moving average price of $11.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Creative Planning bought a new stake in shares of Mesoblast during the 3rd quarter valued at approximately $147,000. Signaturefd LLC boosted its position in Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company's stock valued at $45,000 after buying an additional 3,099 shares in the last quarter. XY Capital Ltd bought a new stake in shares of Mesoblast during the third quarter worth $244,000. Jane Street Group LLC increased 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 buying an additional 26,959 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Mesoblast by 22.1% in the 4th quarter. GAMMA Investing LLC now owns 6,711 shares of the company's stock valued at $133,000 after acquiring an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 1.43% of the company's stock.

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.