Mesoblast (NASDAQ:MESO) Shares Gap Up – Still a Buy?

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $14.63, but opened at $15.72. Mesoblast shares last traded at $15.86, with a volume of 218,619 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MESO shares. Piper Sandler lifted their price objective on shares of Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Maxim Group upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, September 24th. Jefferies Financial Group cut Mesoblast from a “buy” rating to a “hold” rating in a report on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.50.

Mesoblast Stock Up 10.3 %

The business has a fifty day simple moving average of $10.48 and a two-hundred day simple moving average of $8.29. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MESO. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Mesoblast during the second quarter worth about $80,000. Rathbones Group PLC purchased a new stake in Mesoblast during the 2nd quarter valued at about $95,000. XTX Topco Ltd purchased a new position in shares of Mesoblast in the second quarter worth about $103,000. Marshall Wace LLP purchased a new stake in Mesoblast in the second quarter valued at approximately $562,000. Finally, Lazari Capital Management Inc. raised its position in Mesoblast by 6.6% during the 2nd quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after buying an additional 3,300 shares during the last quarter. 1.43% of the stock is currently owned by hedge funds and other 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.