Mesoblast (NASDAQ:MESO) Shares Gap Up – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened on Monday . The stock had previously closed at $10.11, but opened at $10.75. Mesoblast shares last traded at $10.84, with a volume of 36,915 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Trading Up 8.7 %

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $8.97 and its 200-day moving average is $7.69.

Hedge Funds Weigh In On Mesoblast

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock valued at $34,000 after purchasing an additional 1,663 shares in the last quarter. Signaturefd LLC lifted its holdings in Mesoblast by 128.7% during the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after purchasing an additional 3,099 shares in the last quarter. Perkins Coie Trust Co purchased a new position in Mesoblast during the second quarter valued at approximately $68,000. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Mesoblast during the second quarter valued at approximately $80,000. Finally, Rathbones Group PLC bought a new stake in shares of Mesoblast during the second quarter valued at approximately $95,000. Hedge funds and other institutional investors 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.