Mesoblast (NASDAQ:MESO) Shares Gap Up – Here’s What Happened

Mesoblast Limited (NASDAQ:MESOGet Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $16.84, but opened at $17.82. Mesoblast shares last traded at $17.8540, with a volume of 45,224 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a research note on Friday, July 17th. Piper Sandler restated an “overweight” rating and set a $39.00 price objective (up from $35.00) on shares of Mesoblast in a report on Thursday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.00.

View Our Latest Research Report on MESO

Mesoblast Stock Down 4.1%

The stock has a fifty day moving average price of $15.73 and a two-hundred day moving average price of $15.39. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -62.29 and a beta of 2.08. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10.

Mesoblast (NASDAQ:MESOGet Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported ($0.07) EPS for the quarter. The company had revenue of $34.45 million for the quarter. As a group, sell-side analysts expect that Mesoblast Limited will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Mesoblast in the fourth quarter valued at approximately $32,000. JPMorgan Chase & Co. grew its position in Mesoblast by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after buying an additional 1,012 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Mesoblast during the second quarter worth approximately $86,000. GAMMA Investing LLC increased its stake in Mesoblast by 14.1% during the 2nd quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock worth $100,000 after acquiring an additional 916 shares during the period. Finally, Quadrant Capital Group LLC bought a new position in Mesoblast during the 3rd quarter worth $113,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

(Get Free Report)

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.

Further Reading

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