Mesoblast (NASDAQ:MESO) Shares Gap Up – What’s Next?

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Monday . The stock had previously closed at $15.94, but opened at $16.63. Mesoblast shares last traded at $16.74, with a volume of 82,129 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Mesoblast Stock Performance

The company’s 50-day simple moving average is $14.91 and its 200 day simple moving average is $15.45. 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 stock has a market cap of $2.17 billion, a P/E ratio of -59.66 and a beta of 2.08.

Institutional Trading of Mesoblast

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Mesoblast during the 4th quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. raised its position in Mesoblast by 30.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock worth $43,000 after acquiring an additional 558 shares during the period. JPMorgan Chase & Co. raised its position in Mesoblast by 55.6% in the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after acquiring an additional 1,012 shares during the period. NBC Securities Inc. purchased a new position in Mesoblast in the fourth quarter valued at about $89,000. Finally, Quadrant Capital Group LLC purchased a new position in Mesoblast in the third quarter valued at about $113,000. 1.43% of the stock is owned by hedge funds and other institutional investors.

Mesoblast Company Profile

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.