Mesoblast (NASDAQ:MESO) Shares Gap Down – Here’s What Happened

Shares of Mesoblast Limited (NASDAQ:MESO) 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 changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Mesoblast Stock Down 6.2%

The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a 50-day simple moving average of $15.07 and a two-hundred day simple moving average of $15.42. The stock has a market cap of $2.01 billion, a P/E ratio of -55.23 and a beta of 2.08.

Hedge Funds Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently modified their holdings of MESO. Legal & General Group Plc bought a new stake in shares of Mesoblast in the third quarter worth about $10,501,000. Goldman Sachs Group Inc. purchased a new stake in Mesoblast in the 1st quarter worth approximately $3,209,000. Bank of America Corp DE lifted its holdings in Mesoblast by 791.7% in the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after buying an additional 98,960 shares during the period. Brooklyn Investment Group bought a new stake in shares of Mesoblast in the 3rd quarter worth approximately $655,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Mesoblast in the 4th quarter worth approximately $479,000. 1.43% of the stock is 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.