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

Key Points

• Mesoblast Limited shares opened at $15.65 following a gap up from a previous close of $15.19, with the stock last trading at $15.86.
• Analysts have updated their ratings for Mesoblast, with Canaccord Genuity rating it a "strong-buy," while Jefferies Financial Group downgraded it to "hold," leading to a consensus rating of "Moderate Buy" with a price target of $18.00.
• Several hedge funds have recently increased their positions in Mesoblast, with BNP Paribas increasing its stake by an overwhelming 86,566.7% during the 4th quarter.

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $15.19, but opened at $15.65. Mesoblast shares last traded at $15.86, with a volume of 31,469 shares.

Analyst Upgrades and Downgrades

MESO has been the topic of several research reports. Canaccord Genuity Group raised Mesoblast to a "strong-buy" rating in a research report on Tuesday, August 5th. Jefferies Financial Group lowered Mesoblast from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $18.00.

Mesoblast Stock Performance

The company has a quick ratio of 0.63, a current ratio of 0.96 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average price is $13.13 and its two-hundred day moving average price is $13.14.

Institutional Investors Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently made changes to their positions in MESO. Lazari Capital Management Inc. lifted its stake in shares of Mesoblast by 2.2% in the second quarter. Lazari Capital Management Inc. now owns 46,471 shares of the company's stock valued at $506,000 after buying an additional 1,003 shares during the period. Summit X LLC lifted its stake in Mesoblast by 0.6% during 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 during the period. Barclays PLC bought a new position in Mesoblast during the fourth quarter worth about $38,000. JPMorgan Chase & Co. bought a new position in Mesoblast during the fourth quarter worth about $50,000. Finally, BNP Paribas Financial Markets lifted its stake in Mesoblast by 86,566.7% during the fourth quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company's stock worth $51,000 after purchasing an additional 2,597 shares during the period. 1.43% of the stock is owned by institutional investors and hedge funds.

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.