Mesoblast (NASDAQ:MESO) Shares Gap Down – Should You Sell?

Mesoblast Limited (NASDAQ:MESO) gapped down before the market opened on Friday . The stock had previously closed at $16.31, but opened at $15.79. Mesoblast shares last traded at $15.78, with a volume of 21,540 shares traded.

Analysts Set New Price Targets

MESO has been the topic of a number of recent research reports. Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Canaccord Genuity Group raised Mesoblast to a “strong-buy” rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Mesoblast presently has an average rating of “Buy” and an average price target of $24.00.

Mesoblast Trading Down 2.8%

The company has a current ratio of 1.99, a quick ratio of 1.77 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $15.38 and a two-hundred day moving average price of $12.86.

Institutional Investors Weigh In On Mesoblast

Several institutional investors and hedge funds have recently modified their holdings of MESO. BNP Paribas Financial Markets raised its holdings in Mesoblast by 86,566.7% in the 4th quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company’s stock worth $51,000 after acquiring an additional 2,597 shares during the period. Advisors Preferred LLC increased its stake in Mesoblast by 224.9% in the first quarter. Advisors Preferred LLC now owns 4,578 shares of the company’s stock valued at $54,000 after acquiring an additional 3,169 shares during the period. Raymond James Financial Inc. bought a new stake in Mesoblast in the second quarter valued at about $86,000. China Universal Asset Management Co. Ltd. increased its stake in Mesoblast by 33.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 9,124 shares of the company’s stock valued at $99,000 after acquiring an additional 2,302 shares during the period. Finally, Ballentine Partners LLC acquired a new position in Mesoblast in the second quarter valued at about $124,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

About Mesoblast

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.