Mesoblast (NASDAQ:MESO) Shares Gap Down – Time to Sell?

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped down before the market opened on Monday. The stock had previously closed at $13.28, but opened at $12.48. Mesoblast shares last traded at $12.1620, with a volume of 118,475 shares traded.

Analyst Upgrades and Downgrades

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

Mesoblast Price Performance

The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $15.47 and its 200-day simple moving average is $15.19.

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

Hedge Funds Weigh In On Mesoblast

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Mesoblast by 608.4% during the first quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock valued at $1,538,000 after acquiring an additional 85,888 shares during the last quarter. Royal Bank of Canada grew its holdings 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 acquiring an additional 4,827 shares during the period. GAMMA Investing LLC raised its position 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Mesoblast in the 4th quarter worth about $32,000. Institutional investors own 1.43% of the company’s stock.

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.