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

Key Points

• Mesoblast shares gapped down on Friday, opening at $16.48 after closing at $17.86 the prior day and last trading at $16.83.
• Wall Street sentiment remains cautious, with Weiss Ratings reiterating a "sell (e+)" rating and the stock carrying an overall average rating of "Hold" from analysts.
• The company has a strong balance sheet relative to its peers, with a quick ratio of 1.41, current ratio of 1.58, and debt-to-equity ratio of 0.10, while institutional investors own 1.43% of the stock.

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $17.86, but opened at $16.48. Mesoblast shares last traded at $16.83, with a volume of 50,113 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Mesoblast in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Mesoblast Stock Performance

The company has a 50-day simple moving average of $14.74 and a two-hundred day simple moving average of $15.80. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.24 billion, a PE ratio of -61.62 and a beta of 2.08.

Hedge Funds Weigh In On Mesoblast

Several institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Mesoblast during the fourth quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 valued at $43,000 after acquiring an additional 558 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Mesoblast by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company's stock valued at $46,000 after acquiring an additional 1,012 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Mesoblast during the 2nd quarter worth approximately $86,000. Finally, NBC Securities Inc. purchased a new stake in shares of Mesoblast during the 4th quarter worth approximately $89,000. Institutional investors own 1.43% of the company's stock.

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.

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