Mesoblast (NASDAQ:MESO) Shares Gap Up – What’s Next?

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Thursday . The stock had previously closed at $16.84, but opened at $17.82. Mesoblast shares last traded at $17.8540, with a volume of 45,224 shares trading hands.

Analyst Ratings Changes

MESO has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a report on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $39.00 price target on shares of Mesoblast in a report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.00.

Mesoblast Price Performance

The company has a market cap of $2.35 billion, a PE ratio of -64.31 and a beta of 2.08. The firm’s 50-day moving average is $15.59 and its 200-day moving average is $15.36. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10.

Mesoblast (NASDAQ:MESO) last issued 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 for the quarter. On average, equities analysts anticipate that Mesoblast Limited will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of Mesoblast by 4.2% during the fourth quarter. Legal & General Group Plc now owns 679,023 shares of the company’s stock valued at $12,237,000 after purchasing an additional 27,607 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Mesoblast in the first quarter worth $3,209,000. Bank of America Corp DE raised its holdings in Mesoblast by 791.7% in the third quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after purchasing an additional 98,960 shares in the last quarter. Brooklyn Investment Group purchased a new position in Mesoblast during the third quarter valued at $655,000. Finally, Squarepoint Ops LLC lifted its position in Mesoblast by 116.8% during the third quarter. Squarepoint Ops LLC now owns 31,656 shares of the company’s stock valued at $510,000 after buying an additional 17,053 shares during the period. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.