Mesoblast (NASDAQ:MESO) Shares Gap Up to $6.22

Shares of Mesoblast Limited (NASDAQ:MESO) gapped up prior to trading on Monday . The stock had previously closed at $6.22, but opened at $6.65. Mesoblast shares last traded at $6.34, with a volume of 16,443 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MESO shares. Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $4.00 to $11.00 in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Finally, StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

Mesoblast Price Performance

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $696.49 million, a P/E ratio of -5.45 and a beta of 3.47. The company has a fifty day simple moving average of $6.69 and a two-hundred day simple moving average of $6.23.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Lazari Capital Management Inc. boosted its holdings in Mesoblast by 6.6% during the second quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after buying an additional 3,300 shares during the last quarter. Marshall Wace LLP acquired a new position in Mesoblast during the second quarter valued at approximately $562,000. XTX Topco Ltd acquired a new position in Mesoblast during the second quarter valued at approximately $103,000. Rathbones Group PLC bought a new stake in Mesoblast in the second quarter valued at approximately $95,000. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in Mesoblast in the second quarter worth $80,000. Institutional investors and hedge funds 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.