Mesoblast (NASDAQ:MESO) Shares Gap Down - Here's What Happened

Key Points

• Mesoblast Limited's shares gapped down at market opening on Monday, dropping from a previous close of $18.41 to open at $17.44, with the last traded price being $17.54.
• Analysts are divided on the stock, with ratings that include two "Strong Buy," one "Buy," one "Hold," and one "Sell," leading to a consensus rating of "Moderate Buy" and a price target of $24.00.
• Institutional investors have shown a mix of activity, with some increasing stakes significantly, such as Advisors Preferred LLC, which raised its stake by 224.9% in the first quarter.

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $18.41, but opened at $17.44. Mesoblast shares last traded at $17.54, with a volume of 62,735 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Canaccord Genuity Group raised Mesoblast to a "strong-buy" rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Mesoblast in a research note on Saturday, September 27th. Finally, Jefferies Financial Group lowered shares of Mesoblast from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Mesoblast Price Performance

The company has a fifty day simple moving average of $15.48 and a two-hundred day simple moving average of $12.98. The company has a quick ratio of 1.77, a current ratio of 1.99 and a debt-to-equity ratio of 0.11.

Institutional Trading of Mesoblast

A number of hedge funds have recently added to or reduced their stakes in the business. Advisors Preferred LLC increased its stake in shares of Mesoblast by 224.9% during the 1st quarter. Advisors Preferred LLC now owns 4,578 shares of the company's stock valued at $54,000 after acquiring an additional 3,169 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Mesoblast during the second quarter worth approximately $86,000. China Universal Asset Management Co. Ltd. raised its stake in Mesoblast by 33.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 9,124 shares of the company's stock worth $99,000 after purchasing an additional 2,302 shares during the period. Choreo LLC purchased a new position in Mesoblast during the first quarter worth approximately $128,000. Finally, Ballentine Partners LLC acquired a new position in shares of Mesoblast in the 2nd quarter valued at $124,000. 1.43% of the stock is owned by institutional investors and hedge funds.

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.

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