Mesoblast (NASDAQ:MESO) Shares Gap Up - Should You Buy?

Key Points

• Mesoblast's stock price gapped up from $17.65 to $18.55 before settling at $18.32, indicating a strong interest in the shares.
• Analysts have given mixed ratings for Mesoblast, with a consensus rating of "Moderate Buy" and an average target price of $24.00.
• Several institutional investors have recently increased their stakes in Mesoblast, demonstrating growing confidence in the company's future prospects.

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $17.65, but opened at $18.55. Mesoblast shares last traded at $18.32, with a volume of 86,762 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on MESO shares. Canaccord Genuity Group upgraded shares of Mesoblast to a "strong-buy" rating in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Mesoblast in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lowered Mesoblast from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Mesoblast Stock Up 4.4%

The company has a current ratio of 1.99, a quick ratio of 1.77 and a debt-to-equity ratio of 0.11. The business's fifty day moving average price is $16.08 and its 200 day moving average price is $13.39.

Institutional Investors Weigh In On Mesoblast

Several large investors have recently modified their holdings of MESO. Farther Finance Advisors LLC bought a new position in shares of Mesoblast during the 3rd quarter worth approximately $58,000. China Universal Asset Management Co. Ltd. raised its stake in Mesoblast by 33.7% during 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. Raymond James Financial Inc. bought a new position in shares of Mesoblast during the second quarter valued at $86,000. Creative Planning acquired a new stake in shares of Mesoblast in the 2nd quarter valued at $141,000. Finally, Summit X LLC grew its holdings in shares of Mesoblast by 0.6% in the 2nd 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 during the last quarter. 1.43% of the stock is currently 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.

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