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

Shares of Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened on Wednesday . The stock had previously closed at $14.61, but opened at $15.48. Mesoblast shares last traded at $15.7150, with a volume of 46,581 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Mesoblast Trading Up 2.2%

The company has a current ratio of 1.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $15.52 and a two-hundred day simple moving average of $16.78. The firm has a market cap of $2.08 billion, a PE ratio of -29.80 and a beta of 2.19.

Mesoblast (NASDAQ:MESO) last released its quarterly earnings data on Thursday, January 29th. The company reported ($0.16) earnings per share for the quarter. The business had revenue of $25.67 million during the quarter. Equities analysts forecast that Mesoblast Limited will post -0.7 EPS for the current year.

Insiders Place Their Bets

In other Mesoblast news, Director Gregory George acquired 2,324,072 shares of the company’s stock in a transaction on Friday, April 10th. The stock was acquired at an average price of $1.48 per share, for a total transaction of $3,439,626.56. Following the acquisition, the director owned 8,324,072 shares in the company, valued at $12,319,626.56. This represents a 38.73% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders purchased 9,892,852 shares of company stock valued at $28,429,183. Company insiders own 18.80% of the company’s stock.

Institutional Investors Weigh In On Mesoblast

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Mesoblast in the 4th quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Mesoblast by 30.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock valued at $43,000 after purchasing an additional 558 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Mesoblast by 55.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock valued at $46,000 after purchasing an additional 1,012 shares during the period. JFS Wealth Advisors LLC purchased a new position in shares of Mesoblast in the 3rd quarter valued at approximately $54,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Mesoblast in the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

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.