Mesoblast (NASDAQ:MESO) Shares Gap Up - Here's Why

Key Points

• Mesoblast shares jumped at the open, rising from a $16.84 close to $17.82 and last trading near $17.85, with 45,224 shares changing hands.
• Analyst views remain mixed: Piper Sandler maintained an “overweight” rating with a $39 target, while Weiss Ratings reaffirmed “sell.” MarketBeat’s consensus rating is Hold, with an average target of $39.
• Mesoblast reported a quarterly loss of $0.07 per share on $34.45 million in revenue, and analysts expect a full-year loss of $0.46 per share. Institutional investors own a relatively small 1.43% stake in the company.

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $16.84, but opened at $17.82. Mesoblast shares last traded at $17.8540, with a volume of 45,224 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Mesoblast in a research note on Friday, July 17th. Piper Sandler reissued an "overweight" rating and issued a $39.00 target price on shares of Mesoblast in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Mesoblast presently has a consensus rating of "Hold" and an average price target of $39.00.

Mesoblast Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.35 billion, a P/E ratio of -64.31 and a beta of 2.08. The firm's fifty day moving average price is $15.59 and its 200-day moving average price is $15.36.

Mesoblast (NASDAQ:MESO - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported ($0.07) EPS for the quarter. The company had revenue of $34.45 million for the quarter. Analysts forecast that Mesoblast Limited will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Mesoblast

A number of hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Mesoblast during the fourth quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mesoblast by 30.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company's stock worth $43,000 after purchasing an additional 558 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Mesoblast by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company's stock valued at $46,000 after purchasing an additional 1,012 shares during the period. NBC Securities Inc. purchased a new position in Mesoblast during the 4th quarter valued at about $89,000. Finally, Quadrant Capital Group LLC bought a new position in Mesoblast during the 3rd quarter valued at approximately $113,000. Hedge funds and other institutional investors own 1.43% of the company's stock.

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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