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

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $12.12, but opened at $10.99. Mesoblast shares last traded at $11.00, with a volume of 115,284 shares traded.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald raised shares of Mesoblast to a "strong-buy" rating in a report on Monday, March 31st. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Mesoblast Stock Down 0.6%

The stock has a fifty day simple moving average of $11.35 and a 200-day simple moving average of $14.00. The company has a current ratio of 0.96, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On Mesoblast

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in Mesoblast by 1,503.3% in the fourth quarter. Bank of America Corp DE now owns 290,728 shares of the company's stock valued at $5,756,000 after purchasing an additional 272,595 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Mesoblast in the 1st quarter valued at $3,209,000. Summit X LLC grew its position in shares of Mesoblast by 36.0% in the 1st quarter. Summit X LLC now owns 198,163 shares of the company's stock valued at $2,473,000 after buying an additional 52,508 shares during the last quarter. Oaktree Capital Management LP acquired a new stake in Mesoblast during the 4th quarter worth $3,556,000. Finally, Prosperity Wealth Management Inc. lifted its position in Mesoblast by 2.0% in the fourth quarter. Prosperity Wealth Management Inc. now owns 93,245 shares of the company's stock valued at $1,846,000 after acquiring an additional 1,795 shares during the last quarter. Hedge funds and other institutional investors own 1.43% of the company's stock.

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.