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

Mesoblast Limited (NASDAQ:MESO) shares gapped up prior to trading on Monday . The stock had previously closed at $15.94, but opened at $16.63. Mesoblast shares last traded at $16.74, with a volume of 82,129 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Mesoblast Stock Performance

The firm has a fifty day moving average of $14.99 and a 200-day moving average of $15.44. The firm has a market cap of $2.20 billion, a P/E ratio of -60.43 and a beta of 2.08. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On Mesoblast

A number of hedge funds have recently modified their holdings of MESO. Caitong International Asset Management Co. Ltd acquired a new stake in Mesoblast during the 4th quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Mesoblast by 30.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock valued at $43,000 after buying an additional 558 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Mesoblast by 55.6% in the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock valued at $46,000 after buying an additional 1,012 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Mesoblast during the second quarter worth $86,000. Finally, NBC Securities Inc. bought a new stake in shares of Mesoblast during the fourth quarter worth $89,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.