Mesoblast (NASDAQ:MESO) Shares Gap Down - Time to Sell?

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $9.37, but opened at $9.00. Mesoblast shares last traded at $8.84, with a volume of 36,432 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Maxim Group upgraded shares of Mesoblast from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research report on Tuesday, September 24th. Jefferies Financial Group upgraded Mesoblast from a "hold" rating to a "buy" rating in a report on Thursday, August 29th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Mesoblast in a report on Thursday, August 29th. Piper Sandler upgraded Mesoblast from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Finally, StockNews.com downgraded Mesoblast from a "hold" rating to a "sell" rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.50.

Mesoblast Trading Down 7.5 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The stock's 50 day moving average is $7.61 and its 200-day moving average is $7.18. The company has a market capitalization of $989.92 million, a P/E ratio of -7.65 and a beta of 3.47.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MESO. GAMMA Investing LLC grew its stake in Mesoblast by 50.1% in the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company's stock worth $34,000 after purchasing an additional 1,663 shares during the period. Marshall Wace LLP purchased a new stake in shares of Mesoblast in the 2nd quarter worth about $562,000. Chapin Davis Inc. increased its stake in shares of Mesoblast by 50.0% in the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company's stock worth $102,000 after acquiring an additional 5,000 shares in the last quarter. Rathbones Group PLC purchased a new position in Mesoblast during the 2nd quarter valued at about $95,000. Finally, Perkins Coie Trust Co boosted its stake in Mesoblast by 15.0% during the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company's stock worth $94,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors 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.