Mesoblast (NASDAQ:MESO) Shares Gap Up - Time to Buy?

Key Points

• Mesoblast Limited (NASDAQ:MESO) shares opened higher at $15.55 after closing at $14.82, reflecting increased market interest in the stock.
• The stock has a mixed rating from analysts, with Jefferies lowering it to a "hold" but Canaccord Genuity upgrading it to a "strong-buy," resulting in an average price target of $18.00.
• Institutional investors have been active, with notable stakes acquired by China Universal Asset Management and Creative Planning, indicating growing confidence in the company's regenerative medicine technologies.

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $14.82, but opened at $15.55. Mesoblast shares last traded at $15.27, with a volume of 8,449 shares changing hands.

Analyst Upgrades and Downgrades

MESO has been the topic of a number of recent research reports. 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 research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Mesoblast has a consensus rating of "Buy" and an average target price of $18.00.

Mesoblast Trading Up 8.0%

The stock's fifty day simple moving average is $14.98 and its two-hundred day simple moving average is $12.78. The company has a quick ratio of 1.77, a current ratio of 1.99 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Mesoblast

A number of hedge funds have recently made changes to their positions in MESO. Bank of America Corp DE lifted its position in Mesoblast by 1,503.3% during the 4th quarter. Bank of America Corp DE now owns 290,728 shares of the company's stock worth $5,756,000 after acquiring an additional 272,595 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Mesoblast during the 1st quarter worth $3,209,000. GAMMA Investing LLC increased its position in shares of Mesoblast by 1,174.2% during the first quarter. GAMMA Investing LLC now owns 85,513 shares of the company's stock worth $1,067,000 after acquiring an additional 78,802 shares during the last quarter. Summit X LLC lifted its stake in shares of Mesoblast by 36.0% in the first quarter. Summit X LLC now owns 198,163 shares of the company's stock worth $2,473,000 after acquiring an additional 52,508 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Mesoblast by 104.3% in the first quarter. Cubist Systematic Strategies LLC now owns 71,891 shares of the company's stock valued at $897,000 after purchasing an additional 36,700 shares during 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.