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

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.

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s share price gapped up prior to trading 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 changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Canaccord Genuity Group raised shares of Mesoblast to a "strong-buy" rating in a report on Tuesday, August 5th. Jefferies Financial Group downgraded shares of Mesoblast from a "buy" rating to a "hold" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Mesoblast Stock Up 5.5%

The business's fifty day moving average price is $12.88 and its 200 day moving average price is $13.28. The company has a current ratio of 0.96, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Mesoblast

A number of hedge funds and other institutional investors have recently made changes to their positions in MESO. Barclays PLC bought a new position in shares of Mesoblast during the 4th quarter worth about $38,000. JPMorgan Chase & Co. acquired a new stake in shares of Mesoblast during the 4th quarter worth about $50,000. BNP Paribas Financial Markets increased its position in shares of Mesoblast by 86,566.7% during the 4th 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 in the last quarter. Advisors Preferred LLC increased its position in shares of Mesoblast by 224.9% during the 1st quarter. Advisors Preferred LLC now owns 4,578 shares of the company's stock worth $54,000 after purchasing an additional 3,169 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Mesoblast during the 4th quarter worth about $88,000. 1.43% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.