Mesoblast (NASDAQ:MESO) Shares Gap Up to $6.82

Mesoblast Limited (NASDAQ:MESOGet Free Report)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $6.82, but opened at $7.08. Mesoblast shares last traded at $6.96, with a volume of 34,467 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on MESO shares. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.67.

Read Our Latest Report on Mesoblast

Mesoblast Stock Up 4.7 %

The company has a 50 day simple moving average of $6.80 and a 200-day simple moving average of $3.80. The stock has a market cap of $815.25 million, a price-to-earnings ratio of -6.37 and a beta of 3.46.

Institutional Trading of Mesoblast

An institutional investor recently bought a new position in Mesoblast stock. Chase Investment Counsel Corp purchased a new position in shares of Mesoblast Limited (NASDAQ:MESOFree Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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 quarter. Institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

(Get Free Report)

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.

Further Reading

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