Mesoblast (NASDAQ:MESO) Shares Gap Up to $6.22

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $6.22, but opened at $6.65. Mesoblast shares last traded at $6.34, with a volume of 16,443 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MESO shares. Jefferies Financial Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Piper Sandler upgraded Mesoblast from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Finally, StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

Mesoblast Stock Performance

The stock has a fifty day simple moving average of $6.75 and a two-hundred day simple moving average of $6.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $698.78 million, a price-to-earnings ratio of -5.55 and a beta of 3.47.

Institutional Investors Weigh In On Mesoblast

Several large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after buying an additional 1,663 shares in the last quarter. Lazari Capital Management Inc. raised its stake 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 period. Chapin Davis Inc. boosted its holdings in Mesoblast by 50.0% in the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after acquiring an additional 5,000 shares in the last quarter. Perkins Coie Trust Co acquired a new stake in Mesoblast in the second quarter valued at approximately $68,000. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in shares of Mesoblast during the second quarter valued at approximately $80,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

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.