Mesoblast (NASDAQ:MESO) Shares Gap Down – Here’s Why

Mesoblast Limited (NASDAQ:MESO) shares gapped down prior to trading on Monday . The stock had previously closed at $20.96, but opened at $19.35. Mesoblast shares last traded at $18.6020, with a volume of 53,359 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Mesoblast presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Mesoblast Price Performance

The company has a fifty day simple moving average of $17.44 and a two-hundred day simple moving average of $16.05. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -20.05 and a beta of 2.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.77 and a current ratio of 1.99.

Hedge Funds Weigh In On Mesoblast

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Mesoblast in the third quarter valued at approximately $10,501,000. Goldman Sachs Group Inc. acquired a new stake in shares of Mesoblast in the 1st quarter valued at $3,209,000. Bank of America Corp DE increased its stake in shares of Mesoblast by 791.7% in the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock valued at $1,796,000 after purchasing an additional 98,960 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Mesoblast during the 4th quarter worth $839,000. Finally, Brooklyn Investment Group acquired a new position in shares of Mesoblast during the 3rd quarter worth $655,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.