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

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $12.48, but opened at $12.08. Mesoblast shares last traded at $11.89, with a volume of 37,535 shares.

Analyst Ratings Changes

MESO has been the subject of a number of research analyst reports. Piper Sandler reissued an "overweight" rating and issued a $24.00 target price (up from $15.00) on shares of Mesoblast in a research report on Friday, February 7th. Cantor Fitzgerald raised Mesoblast to a "strong-buy" rating in a report on Monday, March 31st. Finally, Jefferies Financial Group cut shares of Mesoblast from a "buy" rating to a "hold" rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Mesoblast presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Mesoblast Stock Down 8.9 %

The company has a 50 day simple moving average of $15.69 and a 200 day simple moving average of $13.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Institutional Investors Weigh In On Mesoblast

Several hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Mesoblast in the 4th quarter worth $30,000. Barclays PLC acquired a new stake in Mesoblast in the fourth quarter valued at about $38,000. Lindbrook Capital LLC boosted its holdings in Mesoblast by 70.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company's stock valued at $43,000 after purchasing an additional 901 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Mesoblast during the 4th quarter worth approximately $50,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Mesoblast by 86,566.7% in the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company's stock valued at $51,000 after buying an additional 2,597 shares during the period. 1.43% of the stock is owned by institutional investors and hedge funds.

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.