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

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $12.48, but opened at $12.08. Mesoblast shares last traded at $11.89, with a volume of 37,535 shares traded.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group downgraded Mesoblast from a "buy" rating to a "hold" rating in a research note on Monday, December 23rd. Piper Sandler reiterated an "overweight" rating and set a $24.00 price target (up previously from $15.00) on shares of Mesoblast in a report on Friday, February 7th. Finally, Cantor Fitzgerald raised shares of Mesoblast to a "strong-buy" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Mesoblast Stock Down 1.9 %

The firm has a 50 day moving average price of $15.85 and a two-hundred day moving average price of $13.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Several large investors have recently modified their holdings of the business. Strategic Financial Concepts LLC bought a new position in Mesoblast in the 4th quarter worth approximately $2,744,000. Jane Street Group LLC boosted its holdings in shares of Mesoblast by 46.4% in the third quarter. Jane Street Group LLC now owns 85,102 shares of the company's stock worth $695,000 after acquiring an additional 26,959 shares during the period. Clayton Financial Group LLC purchased a new position in shares of Mesoblast in the fourth quarter valued at $275,000. Oaktree Capital Management LP bought a new stake in shares of Mesoblast during the 4th quarter valued at $3,556,000. Finally, Oaktree Fund Advisors LLC purchased a new stake in Mesoblast during the 4th quarter worth about $949,000. Hedge funds and other institutional investors own 1.43% of the company's stock.

Remove Ads

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.