Mesoblast (NASDAQ:MESO) Shares Gap Up – What’s Next?

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Thursday . The stock had previously closed at $13.54, but opened at $13.97. Mesoblast shares last traded at $13.78, with a volume of 13,626 shares traded.

Analysts Set New Price Targets

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

Mesoblast Stock Up 1.9 %

The company has a fifty day moving average price of $16.66 and a 200-day moving average price of $12.86. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Mesoblast

Several institutional investors and hedge funds have recently modified their holdings of MESO. R Squared Ltd purchased a new position in shares of Mesoblast in the 4th quarter valued at about $30,000. Barclays PLC purchased a new position in shares of Mesoblast in the 4th quarter valued at about $38,000. Lindbrook Capital LLC increased its stake in shares of Mesoblast by 70.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock valued at $43,000 after purchasing an additional 901 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Mesoblast in the 4th quarter valued at about $50,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Mesoblast by 86,566.7% in the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock valued at $51,000 after purchasing an additional 2,597 shares in the last quarter. 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.