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

Mesoblast Limited (NASDAQ:MESO) shares gapped down before the market opened on Thursday . The stock had previously closed at $15.55, but opened at $14.49. Mesoblast shares last traded at $14.36, with a volume of 41,042 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Mesoblast Trading Down 6.7%

The firm has a 50-day moving average of $14.95 and a 200 day moving average of $16.22. 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 capitalization of $1.88 billion, a price-to-earnings ratio of -26.84 and a beta of 2.05.

Insider Activity

In related news, Director Gregory George acquired 4,000,000 shares of the stock in a transaction that occurred on Saturday, April 4th. The shares were acquired at an average price of $1.42 per share, for a total transaction of $5,680,000.00. Following the completion of the purchase, the director directly owned 12,000,000 shares of the company’s stock, valued at $17,040,000. The trade was a 50.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased 9,892,852 shares of company stock valued at $28,429,183 in the last ninety days. Company insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On Mesoblast

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Mesoblast by 608.4% in the 1st quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock worth $1,538,000 after buying an additional 85,888 shares in the last quarter. Royal Bank of Canada boosted its stake in Mesoblast by 22.5% during the first quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock valued at $404,000 after buying an additional 4,827 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Mesoblast during the fourth quarter worth about $32,000. Quadrature Capital Ltd acquired a new position in Mesoblast during the fourth quarter worth about $479,000. Finally, AQR Capital Management LLC raised its position in Mesoblast by 80.5% in the fourth quarter. AQR Capital Management LLC now owns 25,215 shares of the company’s stock worth $455,000 after acquiring an additional 11,242 shares in the last quarter. 1.43% of the stock is currently owned by institutional investors and hedge funds.

About Mesoblast

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.