Mesoblast (NASDAQ:MESO) Shares Gap Down – Should You Sell?

Mesoblast Limited (NASDAQ:MESO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $12.48, but opened at $12.08. Mesoblast shares last traded at $11.89, with a volume of 37,535 shares trading hands.

Analyst Ratings Changes

MESO has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $24.00 price objective (up previously from $15.00) on shares of Mesoblast in a research report on Friday, February 7th. Cantor Fitzgerald upgraded shares of Mesoblast to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mesoblast currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Mesoblast Price Performance

The firm’s 50-day moving average price is $15.97 and its two-hundred day moving average price is $13.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Hedge Funds Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently modified their holdings of MESO. R Squared Ltd acquired a new stake in Mesoblast during the 4th quarter worth about $30,000. Barclays PLC purchased a new position in shares of Mesoblast in the fourth quarter worth about $38,000. Lindbrook Capital LLC boosted its holdings in shares of Mesoblast by 70.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock worth $43,000 after purchasing an additional 901 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Mesoblast during the fourth quarter worth $50,000. Finally, BNP Paribas Financial Markets boosted 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 valued at $51,000 after acquiring an additional 2,597 shares during the last quarter. 1.43% of the stock is owned by hedge funds and other institutional investors.

About Mesoblast

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.