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

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $13.54, but opened at $13.97. Mesoblast shares last traded at $13.78, with a volume of 13,626 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MESO shares. Piper Sandler restated 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. Cantor Fitzgerald upgraded Mesoblast to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group lowered Mesoblast from a "buy" rating to a "hold" rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Mesoblast currently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Mesoblast Stock Performance

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $16.66 and a two-hundred day simple moving average of $12.95.

Institutional Investors Weigh In On Mesoblast

A number of large investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Mesoblast in the fourth quarter valued at $30,000. Barclays PLC bought a new stake in shares of Mesoblast during the 4th quarter worth about $38,000. Lindbrook Capital LLC grew its stake in Mesoblast by 70.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company's stock valued at $43,000 after buying an additional 901 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Mesoblast in the 4th quarter valued at about $50,000. Finally, BNP Paribas Financial Markets lifted its position in Mesoblast by 86,566.7% during the fourth quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company's stock worth $51,000 after acquiring an additional 2,597 shares during the last quarter. Institutional investors own 1.43% of the company's stock.

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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.