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

Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $9.41, but opened at $9.75. Mesoblast shares last traded at $9.85, with a volume of 7,492 shares traded.

Wall Street Analysts Forecast Growth

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

Mesoblast Stock Performance

The company has a fifty day moving average price of $7.27 and a two-hundred day moving average price of $7.06. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -8.88 and a beta of 3.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Institutional Trading of Mesoblast

A number of hedge funds have recently bought and sold shares of MESO. GAMMA Investing LLC raised its position in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company's stock valued at $34,000 after buying an additional 1,663 shares during the period. Marshall Wace LLP purchased a new position in Mesoblast during the second quarter valued at approximately $562,000. Chapin Davis Inc. increased its stake in Mesoblast by 50.0% in the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company's stock valued at $102,000 after buying an additional 5,000 shares during the period. Rathbones Group PLC purchased a new stake in Mesoblast in the 2nd quarter worth approximately $95,000. Finally, Perkins Coie Trust Co boosted its stake in shares of Mesoblast by 15.0% during the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company's stock valued at $94,000 after buying an additional 1,500 shares during the period. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.