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

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Friday . The stock had previously closed at $15.54, but opened at $16.30. Mesoblast shares last traded at $16.58, with a volume of 104,458 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MESO. Piper Sandler reiterated an “overweight” rating and issued a $24.00 target price (up previously from $15.00) on shares of Mesoblast in a research note on Friday, February 7th. Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. Finally, Cantor Fitzgerald upgraded Mesoblast to a “strong-buy” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Mesoblast Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $18.02 and its two-hundred day moving average price is $12.03.

Institutional Trading of Mesoblast

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC boosted its holdings in shares of Mesoblast by 241.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 35,191 shares of the company’s stock worth $697,000 after acquiring an additional 24,870 shares in the last quarter. Bank of America Corp DE raised its position in Mesoblast by 1,503.3% in the 4th quarter. Bank of America Corp DE now owns 290,728 shares of the company’s stock valued at $5,756,000 after purchasing an additional 272,595 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Mesoblast by 86,566.7% in the fourth quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock worth $51,000 after purchasing an additional 2,597 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Mesoblast during the fourth quarter worth $88,000. Finally, Jump Financial LLC acquired a new stake in shares of Mesoblast in the fourth quarter valued at $205,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

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.