Mesoblast (NASDAQ:MESO) Shares Gap Up to $3.49

Shares of Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened on Thursday . The stock had previously closed at $3.49, but opened at $4.46. Mesoblast shares last traded at $5.01, with a volume of 11,940,182 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com upgraded Mesoblast from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.67.

Mesoblast Price Performance

The company’s 50 day moving average price is $2.10 and its 200-day moving average price is $2.27. The company has a market capitalization of $508.67 million, a PE ratio of -3.75 and a beta of 3.44. The company has a current ratio of 2.71, a quick ratio of 1.95 and a debt-to-equity ratio of 0.21.

Institutional Trading of Mesoblast

Several institutional investors have recently made changes to their positions in MESO. Envestnet Asset Management Inc. purchased a new stake in shares of Mesoblast during the 3rd quarter valued at $33,000. EWA LLC purchased a new stake in Mesoblast during the 1st quarter worth $40,000. Prosperity Wealth Management Inc. purchased a new stake in Mesoblast during the 3rd quarter worth $79,000. Vident Investment Advisory LLC boosted its position in Mesoblast by 12.8% during the 4th quarter. Vident Investment Advisory LLC now owns 28,080 shares of the company’s stock worth $82,000 after purchasing an additional 3,191 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Mesoblast during the 4th quarter worth $85,000. 1.43% of the stock is owned by hedge funds and other institutional investors.

Mesoblast Company Profile

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage cells.