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

Key Points

• Mesoblast Limited shares saw a significant increase, opening at $18.23 after a previous close of $17.02, a jump of around 7.1%.
• Wall Street analysts have mixed views on the stock, with a current consensus rating of "Moderate Buy" and an average price target of $24.00.
• Institutional activity has increased, with Goldman Sachs acquiring a new position worth approximately $3.2 million in the first quarter of the year.

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $17.02, but opened at $18.23. Mesoblast shares last traded at $18.43, with a volume of 122,101 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MESO. Weiss Ratings reissued a "sell (e+)" rating on shares of Mesoblast in a report on Saturday, September 27th. Jefferies Financial Group lowered Mesoblast from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Canaccord Genuity Group upgraded shares of Mesoblast to a "strong-buy" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.00.

Mesoblast Stock Up 8.2%

The stock's fifty day moving average price is $15.43 and its 200-day moving average price is $12.95. 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

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in shares of Mesoblast during the 1st quarter worth approximately $3,209,000. Summit X LLC increased its holdings in shares of Mesoblast by 0.6% in the second quarter. Summit X LLC now owns 199,295 shares of the company's stock valued at $2,170,000 after purchasing an additional 1,132 shares during the last quarter. GAMMA Investing LLC grew its holdings in Mesoblast by 1,174.2% in the 1st quarter. GAMMA Investing LLC now owns 85,513 shares of the company's stock valued at $1,067,000 after buying an additional 78,802 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Mesoblast by 104.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 71,891 shares of the company's stock valued at $897,000 after buying an additional 36,700 shares in the last quarter. Finally, Lazari Capital Management Inc. grew its holdings in Mesoblast by 2.2% in the 2nd 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 in the last quarter. 1.43% of the stock is currently 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.

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