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

Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $15.54, but opened at $16.30. Mesoblast shares last traded at $16.58, with a volume of 104,458 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Cantor Fitzgerald upgraded shares of Mesoblast to a "strong-buy" rating in a research report on Thursday, January 30th. Piper Sandler reaffirmed an "overweight" rating and set a $24.00 price objective (up from $15.00) on shares of Mesoblast in a research note on Friday, February 7th. Finally, Jefferies Financial Group downgraded shares of Mesoblast from a "buy" rating to a "hold" rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Mesoblast Stock Down 4.5 %

The firm's 50 day moving average price is $18.03 and its 200 day moving average price is $12.25. 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

A number of institutional investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in Mesoblast in the fourth quarter worth about $30,000. Barclays PLC purchased a new stake in Mesoblast in the fourth quarter worth about $38,000. Lindbrook Capital LLC lifted its holdings in Mesoblast by 70.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,172 shares of the company's stock worth $43,000 after buying an additional 901 shares during the period. JPMorgan Chase & Co. purchased a new stake in Mesoblast in the fourth quarter worth about $50,000. Finally, BNP Paribas Financial Markets lifted its holdings in Mesoblast by 86,566.7% in the fourth quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company's stock worth $51,000 after buying an additional 2,597 shares during the period. 1.43% of the stock is owned by institutional investors.

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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.