Mesoblast (NASDAQ:MESO) Shares Gap Down - What's Next?

Key Points

• Mesoblast shares opened at $15.40 after closing at $15.93, with the last traded price being $15.30.
• Analyst ratings on Mesoblast vary, with Jefferies downgrading it to a "hold" and Canaccord Genuity upgrading it to a "strong-buy," resulting in a consensus rating of "Buy" and a price target of $18.00.
• Institutional investors hold approximately 1.43% of Mesoblast, with significant recent activity from hedge funds, including a notable increase in holdings by BNP Paribas Financial Markets.

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $15.93, but opened at $15.40. Mesoblast shares last traded at $15.30, with a volume of 28,526 shares.

Analyst Ratings Changes

MESO has been the subject of several recent analyst reports. Canaccord Genuity Group upgraded Mesoblast to a "strong-buy" rating in a report on Tuesday, August 5th. Jefferies Financial Group cut Mesoblast from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $18.00.

Mesoblast Stock Up 4.2%

The company has a current ratio of 0.96, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $13.38 and a two-hundred day moving average price of $13.10.

Institutional Investors Weigh In On Mesoblast

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in shares of Mesoblast in the 4th quarter valued at about $50,000. Geode Capital Management LLC lifted its stake in Mesoblast by 65.5% in the 4th quarter. Geode Capital Management LLC now owns 18,245 shares of the company's stock valued at $361,000 after purchasing an additional 7,220 shares during the last quarter. Barclays PLC bought a new position in Mesoblast during the fourth quarter worth about $38,000. XTX Topco Ltd acquired a new position in Mesoblast during the fourth quarter worth approximately $283,000. Finally, Jump Financial LLC acquired a new position in Mesoblast during the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 1.43% of the company's stock.

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.