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

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.

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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Jefferies Financial Group downgraded Mesoblast from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Canaccord Genuity Group upgraded Mesoblast to a "strong-buy" rating in a research 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 company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $18.00.

Mesoblast Trading Down 2.5%

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 business has a 50-day moving average of $14.68 and a 200 day moving average of $12.74.

Hedge Funds Weigh In On Mesoblast

A number of large investors have recently bought and sold shares of MESO. Bank of America Corp DE grew 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 worth $5,756,000 after purchasing an additional 272,595 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Mesoblast in the first quarter worth approximately $3,209,000. Summit X LLC grew its stake 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 purchasing an additional 1,132 shares in the last quarter. GAMMA Investing LLC grew its stake in Mesoblast by 1,174.2% in the first quarter. GAMMA Investing LLC now owns 85,513 shares of the company's stock worth $1,067,000 after purchasing an additional 78,802 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Mesoblast by 104.3% in the first quarter. Cubist Systematic Strategies LLC now owns 71,891 shares of the company's stock worth $897,000 after purchasing an additional 36,700 shares in the last quarter. Hedge funds and other institutional investors 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.