Mesoblast (NASDAQ:MESO) Shares Gap Down – Time to Sell?

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $15.55, but opened at $14.49. Mesoblast shares last traded at $14.36, with a volume of 41,042 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Mesoblast Trading Down 6.7%

The firm has a market capitalization of $1.88 billion, a P/E ratio of -26.84 and a beta of 2.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.41 and a current ratio of 1.58. The firm has a 50 day moving average price of $14.95 and a two-hundred day moving average price of $16.22.

Insider Activity at Mesoblast

In related news, Director Gregory George purchased 2,324,072 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average price of $1.48 per share, for a total transaction of $3,439,626.56. Following the transaction, the director directly owned 8,324,072 shares of the company’s stock, valued at $12,319,626.56. This trade represents a 38.73% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 9,892,852 shares of company stock worth $28,429,183 over the last three months. Corporate insiders own 18.80% of the company’s stock.

Institutional Trading of Mesoblast

Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Mesoblast by 4.2% in the fourth quarter. Legal & General Group Plc now owns 679,023 shares of the company’s stock worth $12,237,000 after buying an additional 27,607 shares during the period. Goldman Sachs Group Inc. acquired a new position in Mesoblast in the 1st quarter worth approximately $3,209,000. Bank of America Corp DE boosted its stake in Mesoblast by 791.7% in the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after purchasing an additional 98,960 shares during the period. Rialto Wealth Management LLC purchased a new position in Mesoblast during the 4th quarter worth approximately $839,000. Finally, Brooklyn Investment Group acquired a new stake in Mesoblast during the 3rd quarter valued at $655,000. 1.43% of the stock is owned by hedge funds and other institutional investors.

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.