Mesoblast (NASDAQ:MESO) Shares Gap Down – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $17.86, but opened at $16.48. Mesoblast shares last traded at $16.83, with a volume of 50,113 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mesoblast presently has a consensus rating of “Moderate Buy”.

Mesoblast Stock Performance

The firm has a fifty day simple moving average of $14.79 and a 200 day simple moving average of $15.81. 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 stock has a market cap of $2.24 billion, a price-to-earnings ratio of -61.86 and a beta of 2.08.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Mesoblast during the fourth quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 buying an additional 558 shares during the period. JPMorgan Chase & Co. increased its holdings in 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 buying an additional 1,012 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Mesoblast in the 2nd quarter valued at $86,000. Finally, NBC Securities Inc. acquired a new position in shares of Mesoblast in the 4th quarter valued at $89,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

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.