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

Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened on Tuesday . The stock had previously closed at $10.40, but opened at $11.29. Mesoblast shares last traded at $10.89, with a volume of 25,393 shares traded.

Wall Street Analysts Forecast Growth

MESO has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. Cantor Fitzgerald raised shares of Mesoblast to a “strong-buy” rating in a report on Monday, March 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $24.00 price target (up previously from $15.00) on shares of Mesoblast in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.00.

Mesoblast Trading Down 6.1 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18. The firm’s 50-day moving average price is $14.64 and its 200 day moving average price is $13.46.

Institutional Trading of Mesoblast

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Mesoblast by 1,503.3% during the 4th quarter. Bank of America Corp DE now owns 290,728 shares of the company’s stock worth $5,756,000 after purchasing an additional 272,595 shares during the last quarter. Oaktree Capital Management LP acquired a new stake in Mesoblast during the fourth quarter worth approximately $3,556,000. Strategic Financial Concepts LLC purchased a new stake in Mesoblast in the 4th quarter worth approximately $2,744,000. Prosperity Wealth Management Inc. raised its holdings in Mesoblast by 2.0% in the 4th quarter. Prosperity Wealth Management Inc. now owns 93,245 shares of the company’s stock valued at $1,846,000 after acquiring an additional 1,795 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Mesoblast by 1,174.2% during the first quarter. GAMMA Investing LLC now owns 85,513 shares of the company’s stock worth $1,067,000 after purchasing an additional 78,802 shares during the last quarter. 1.43% of the stock is currently owned by hedge funds and other 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.