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

Key Points

• Mesoblast Limited's shares opened at $14.67 after closing at $15.37, indicating a gap down in stock price before market opening on Friday.
• The company has received mixed ratings from analysts, with Jefferies Financial Group downgrading it to a "hold" while Canaccord Genuity upgraded it to a "strong-buy," resulting in a consensus rating of "Buy" and a target price of $18.00.
• Institutional investors have significantly increased their stakes in Mesoblast, with notable boosts from BNP Paribas Financial Markets and Bank of America Corp, indicating growing confidence in the company's future.

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $15.37, but opened at $14.67. Mesoblast shares last traded at $14.86, with a volume of 13,619 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MESO. Jefferies Financial Group lowered shares of 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 equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $18.00.

Mesoblast Trading Down 3.6%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.99 and a quick ratio of 1.77. The company's 50 day simple moving average is $14.47 and its two-hundred day simple moving average is $12.73.

Institutional Trading of Mesoblast

Several large investors have recently added to or reduced their stakes in the business. Lazari Capital Management Inc. grew its position in Mesoblast by 2.2% in the second quarter. Lazari Capital Management Inc. now owns 46,471 shares of the company's stock worth $506,000 after acquiring an additional 1,003 shares in the last quarter. Summit X LLC grew its position in Mesoblast by 0.6% in the second quarter. Summit X LLC now owns 199,295 shares of the company's stock worth $2,170,000 after acquiring an additional 1,132 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Mesoblast by 33.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 9,124 shares of the company's stock worth $99,000 after acquiring an additional 2,302 shares in the last quarter. BNP Paribas Financial Markets grew its position in Mesoblast by 86,566.7% in the fourth quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company's stock worth $51,000 after acquiring an additional 2,597 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Mesoblast by 27.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,331 shares of the company's stock worth $145,000 after acquiring an additional 2,832 shares in the last quarter. 1.43% of the stock is owned by institutional investors.

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.