Mesoblast (NASDAQ:MESO) Shares Gap Up – Time to Buy?

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.11, but opened at $10.75. Mesoblast shares last traded at $10.84, with a volume of 36,915 shares trading hands.

Wall Street Analyst Weigh In

MESO has been the topic of several analyst reports. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Jefferies Financial Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Finally, Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Mesoblast Price Performance

The company’s 50-day moving average price is $9.06 and its 200 day moving average price is $7.72. 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 Investors Weigh In On Mesoblast

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in shares of Mesoblast by 46.4% during the 3rd quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock valued at $695,000 after buying an additional 26,959 shares in the last quarter. XY Capital Ltd bought a new stake in Mesoblast during the third quarter worth about $244,000. Signaturefd LLC grew its holdings in Mesoblast by 128.7% in the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after purchasing an additional 3,099 shares during the period. Creative Planning bought a new position in shares of Mesoblast during the third quarter valued at approximately $147,000. Finally, Perkins Coie Trust Co lifted its holdings in shares of Mesoblast by 15.0% during the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after purchasing an additional 1,500 shares during the last quarter. 1.43% of the stock is currently owned by institutional investors.

About Mesoblast

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.