Mesoblast (NASDAQ:MESO) Shares Gap Up to $6.81

Mesoblast Limited (NASDAQ:MESO) shares gapped up before the market opened on Friday . The stock had previously closed at $6.81, but opened at $7.35. Mesoblast shares last traded at $7.39, with a volume of 11,997 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on MESO shares. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a report on Thursday, June 20th. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.67.

Mesoblast Stock Up 13.1 %

The stock has a market cap of $878.04 million, a price-to-earnings ratio of -6.60 and a beta of 3.48. The business’s 50 day simple moving average is $7.29 and its 200 day simple moving average is $4.40.

Hedge Funds Weigh In On Mesoblast

An institutional investor recently bought a new position in Mesoblast stock. Chase Investment Counsel Corp acquired a new stake in Mesoblast Limited (NASDAQ:MESO) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,600 shares of the company’s stock, valued at approximately $298,000. Chase Investment Counsel Corp owned 0.05% of Mesoblast at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.