Mesoblast (NASDAQ:MESO) Shares Gap Down - Should You Sell?

Key Points

• Mesoblast Limited shares gapped down significantly, opening at $14.22 after closing at $15.95, and currently trades at $13.87.
• Analyst ratings show mixed sentiment with Jefferies Financial Group downgrading the stock to "hold" while Canaccord Genuity upgraded it to "strong-buy."
• Institutional investors have made substantial changes to their holdings, with BNP Paribas increasing its position by 86,566.7%, reflecting growing interest in the stock despite recent declines.

Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $15.95, but opened at $14.22. Mesoblast shares last traded at $13.87, with a volume of 129,821 shares.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Jefferies Financial Group lowered Mesoblast from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Canaccord Genuity Group upgraded shares of Mesoblast to a "strong-buy" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Mesoblast presently has an average rating of "Buy" and an average price target of $18.00.

Mesoblast Stock Down 12.9%

The company has a quick ratio of 0.63, a current ratio of 0.96 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $13.71 and a 200-day moving average of $13.02.

Hedge Funds Weigh In On Mesoblast

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC acquired a new stake in Mesoblast in the 4th quarter worth about $38,000. JPMorgan Chase & Co. bought a new position in shares of Mesoblast during the fourth quarter worth approximately $50,000. BNP Paribas Financial Markets increased its holdings in shares of Mesoblast by 86,566.7% during 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 during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Mesoblast in the fourth quarter valued at approximately $88,000. Finally, Advisors Preferred LLC boosted its stake in shares of Mesoblast by 224.9% in the first quarter. Advisors Preferred LLC now owns 4,578 shares of the company's stock valued at $54,000 after buying an additional 3,169 shares during the period. 1.43% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.