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

Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

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

Mesoblast Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18. The company’s 50 day moving average is $6.69 and its 200 day moving average is $6.23. The stock has a market capitalization of $696.49 million, a price-to-earnings ratio of -5.45 and a beta of 3.47.

Institutional Investors Weigh In On Mesoblast

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Mesoblast by 50.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after acquiring an additional 1,663 shares during the period. Perkins Coie Trust Co bought a new stake in Mesoblast in the 2nd quarter valued at $68,000. Pine Valley Investments Ltd Liability Co acquired a new position in shares of Mesoblast in the 2nd quarter valued at $80,000. Rathbones Group PLC bought a new position in shares of Mesoblast during the 2nd quarter worth about $95,000. Finally, Chapin Davis Inc. boosted its position in shares of Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors 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.