Mesoblast (NASDAQ:MESO) Shares Gap Up - Still a 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.

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares gapped up before the market opened 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.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MESO shares. Jefferies Financial Group lowered Mesoblast from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Canaccord Genuity Group raised Mesoblast to a "strong-buy" rating in a research note on Tuesday, August 5th. Two equities research 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 stock. According to MarketBeat, Mesoblast currently has an average rating of "Buy" and an average price target of $18.00.

Mesoblast Trading Up 3.3%

The firm has a fifty day moving average of $14.47 and a 200 day moving average of $12.73. The company has a current ratio of 1.99, a quick ratio of 1.77 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its position in Mesoblast by 33.7% during the 2nd 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 during the period. Raymond James Financial Inc. acquired a new position in Mesoblast during the 2nd quarter worth $86,000. Creative Planning acquired a new position in Mesoblast during the 2nd quarter worth $141,000. Summit X LLC boosted its position in Mesoblast by 0.6% during the 2nd 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 during the period. Finally, R Squared Ltd bought a new stake in shares of Mesoblast in the 2nd quarter worth $126,000. Institutional investors and hedge funds 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.

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