Mesoblast (NASDAQ:MESO) Shares Gap Up – Still a Buy?

Mesoblast Limited (NASDAQ:MESO) gapped up prior to trading on Monday . The stock had previously closed at $15.95, but opened at $16.68. Mesoblast shares last traded at $16.88, with a volume of 52,987 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Mesoblast presently has an average rating of “Moderate Buy”.

Mesoblast Trading Up 5.2%

The company has a market capitalization of $2.17 billion, a P/E ratio of -19.07 and a beta of 2.15. The business has a 50 day moving average price of $18.19 and a 200 day moving average price of $16.76. The company has a current ratio of 1.99, a quick ratio of 1.77 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Mesoblast

Several institutional investors and hedge funds have recently made changes to their positions in MESO. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mesoblast by 30.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock worth $43,000 after acquiring an additional 558 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 1,012 shares during the last quarter. JFS Wealth Advisors LLC bought a new position in Mesoblast in the third quarter valued at $54,000. Farther Finance Advisors LLC bought a new position in Mesoblast in the third quarter valued at $58,000. Finally, Parkside Financial Bank & Trust acquired a new stake in Mesoblast in the 3rd quarter valued at $72,000. Institutional investors and hedge funds 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.