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

Mesoblast Limited (NASDAQ:MESO) shares gapped down before the market opened on Monday . The stock had previously closed at $20.96, but opened at $19.35. Mesoblast shares last traded at $18.6020, with a volume of 53,359 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Mesoblast has an average rating of “Moderate Buy” and an average price target of $24.00.

Mesoblast Trading Down 10.6%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.99 and a quick ratio of 1.77. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -21.25 and a beta of 2.14. The business has a fifty day moving average price of $17.35 and a 200 day moving average price of $15.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Mesoblast during the 1st quarter worth approximately $3,209,000. Ballentine Partners LLC acquired a new position in shares of Mesoblast in the second quarter valued at $124,000. R Squared Ltd bought a new position in Mesoblast in the second quarter worth $126,000. Lazari Capital Management Inc. boosted its stake in Mesoblast by 2.2% during the second quarter. Lazari Capital Management Inc. now owns 46,471 shares of the company’s stock worth $506,000 after buying an additional 1,003 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Mesoblast by 27.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,331 shares of the company’s stock worth $145,000 after buying an additional 2,832 shares in the last quarter. 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.