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

Key Points

• Mesoblast shares opened higher, rising from a prior close of $15.94 to $16.63 and last trading at $16.74 on volume of 82,129 shares.
• Wall Street sentiment remains negative: Weiss Ratings reiterated a “Sell (e+)” rating, and MarketBeat data shows the stock has an average rating of “Sell.”
• Mesoblast has a market capitalization of approximately $2.17 billion, while institutional investors own just 1.43% of its shares; several funds recently initiated or increased positions.

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $15.94, but opened at $16.63. Mesoblast shares last traded at $16.74, with a volume of 82,129 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Mesoblast in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell".

Mesoblast Price Performance

The stock has a market capitalization of $2.17 billion, a P/E ratio of -59.66 and a beta of 2.08. The business's 50 day simple moving average is $14.91 and its two-hundred day simple moving average is $15.45. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10.

Institutional Trading of Mesoblast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Mesoblast in the fourth quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Mesoblast by 30.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company's stock valued at $43,000 after buying an additional 558 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Mesoblast by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company's stock worth $46,000 after buying an additional 1,012 shares in the last quarter. NBC Securities Inc. bought a new stake in Mesoblast during the fourth quarter worth $89,000. Finally, Quadrant Capital Group LLC purchased a new stake in Mesoblast in the 3rd quarter valued at $113,000. 1.43% of the stock is owned by institutional investors.

About Mesoblast

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company's most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn's disease.

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