Mesoblast (NASDAQ:MESO) Shares Gap Down – Should You Sell?

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $16.49, but opened at $15.68. Mesoblast shares last traded at $15.4990, with a volume of 18,781 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Mesoblast presently has an average rating of “Sell”.

Mesoblast Stock Performance

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 stock has a market cap of $2.01 billion, a PE ratio of -55.23 and a beta of 2.08. The company’s 50-day moving average price is $15.07 and its two-hundred day moving average price is $15.42.

Hedge Funds Weigh In On Mesoblast

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new position in shares of Mesoblast during the 1st quarter valued at about $3,209,000. Creative Planning bought a new position in Mesoblast during the second quarter valued at approximately $141,000. Raymond James Financial Inc. bought a new position in Mesoblast during the second quarter valued at approximately $86,000. JPMorgan Chase & Co. raised its stake in shares of Mesoblast by 55.6% during the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after acquiring an additional 1,012 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Mesoblast during the third quarter worth approximately $10,501,000. 1.43% of the stock is currently owned by institutional investors.

About Mesoblast

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.