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

Mesoblast Limited (NASDAQ:MESOGet Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $15.60, but opened at $17.21. Mesoblast shares last traded at $17.1320, with a volume of 111,460 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mesoblast presently has a consensus rating of “Sell”.

Get Our Latest Report on Mesoblast

Mesoblast Stock Performance

The company has a market capitalization of $2.24 billion, a P/E ratio of -61.61 and a beta of 2.08. The company has a current ratio of 1.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average is $15.10 and its 200 day moving average is $15.39.

Hedge Funds Weigh In On Mesoblast

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Mesoblast in the fourth quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Mesoblast by 30.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock worth $43,000 after purchasing an additional 558 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Mesoblast by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after purchasing an additional 1,012 shares in the last quarter. Raymond James Financial Inc. bought a new position in Mesoblast in the 2nd quarter worth about $86,000. Finally, NBC Securities Inc. purchased a new position in Mesoblast during the 4th quarter valued at about $89,000. 1.43% of the stock is owned by institutional investors.

About Mesoblast

(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.

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