Mesoblast (NASDAQ:MESO) Shares Gap Down – Should You Sell?

Mesoblast Limited (NASDAQ:MESO) 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 recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research note on Thursday, August 29th. Jefferies Financial Group raised Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Maxim Group raised 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. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $4.00 to $11.00 in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Mesoblast currently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Stock Performance

The firm has a 50 day moving average price of $7.61 and a 200-day moving average price of $7.18. The stock has a market capitalization of $986.50 million, a PE ratio of -7.84 and a beta of 3.47. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Trading of Mesoblast

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after acquiring an additional 1,663 shares during the last quarter. Signaturefd LLC boosted its stake in Mesoblast by 128.7% during the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after buying an additional 3,099 shares during the last quarter. Perkins Coie Trust Co purchased a new position in shares of Mesoblast during the 2nd quarter worth $68,000. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Mesoblast in the second quarter valued at about $80,000. Finally, Rathbones Group PLC purchased a new stake in shares of Mesoblast in the 2nd quarter valued at approximately $95,000. Institutional investors and hedge funds 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.