Mesoblast (NASDAQ:MESO) Shares Gap Up – Here’s Why

Shares of Mesoblast Limited (NASDAQ:MESO) gapped up prior to trading on Thursday. The stock had previously closed at $13.39, but opened at $15.50. Mesoblast shares last traded at $15.4610, with a volume of 191,318 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research report on Thursday, September 24th. Piper Sandler reiterated an “overweight” rating and issued a $39.00 price target (up from $35.00) on shares of Mesoblast in a research report on Thursday, August 27th. Finally, Weiss Ratings upgraded shares of Mesoblast from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 9th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Mesoblast has an average rating of “Hold” and a consensus price target of $39.00.

Mesoblast Stock Performance

The stock has a fifty day moving average of $15.00 and a 200-day moving average of $15.47. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.19.

Mesoblast (NASDAQ:MESO) last posted its quarterly earnings data on Friday, July 31st. The company reported ($0.07) EPS for the quarter. The business had revenue of $34.45 million during the quarter. Analysts predict that Mesoblast Limited will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mesoblast

Several hedge funds have recently modified their holdings of MESO. Bank of America Corp DE grew its position in Mesoblast by 608.4% in the 1st quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock valued at $1,538,000 after buying an additional 85,888 shares during the last quarter. Royal Bank of Canada raised its position in Mesoblast by 22.5% during the 1st quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock worth $404,000 after buying an additional 4,827 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Mesoblast by 15.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,566 shares of the company’s stock worth $142,000 after buying an additional 1,247 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Mesoblast by 14.1% in the 2nd quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock worth $100,000 after acquiring an additional 916 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mesoblast in the 3rd quarter worth $39,000. 1.43% of the stock is owned by institutional investors and hedge funds.

About Mesoblast

Mesoblast Limited is an Australia-based biotechnology company focused on developing and commercializing regenerative medicines made from specialized allogeneic mesenchymal lineage cells. The company’s platform is designed to produce “off-the-shelf” cellular therapies intended to address inflammation, tissue damage and impaired healing without requiring cells to be collected from each individual patient.

Mesoblast’s lead product, remestemcel-L, is marketed in the United States as RYONCIL.