Mesoblast (NASDAQ:MESO) Shares Gap Up – Time to Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) gapped up prior to trading on Thursday . The stock had previously closed at $19.80, but opened at $20.81. Mesoblast shares last traded at $21.12, with a volume of 159,945 shares traded.

Wall Street Analyst Weigh In

MESO has been the subject of a number of research analyst reports. Piper Sandler raised their price objective on shares of Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, September 24th. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.50.

Mesoblast Stock Up 4.6 %

The firm has a 50 day simple moving average of $11.89 and a 200 day simple moving average of $8.92. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Trading of Mesoblast

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in shares of Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock worth $695,000 after purchasing an additional 26,959 shares in the last quarter. XY Capital Ltd bought a new stake in shares of Mesoblast during the 3rd quarter worth $244,000. Signaturefd LLC raised its position 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. Creative Planning purchased a new position in shares of Mesoblast in the 3rd quarter worth about $147,000. Finally, Perkins Coie Trust Co increased its position in shares of Mesoblast by 15.0% during the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after purchasing an additional 1,500 shares during the last quarter. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

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.