Mesoblast (NASDAQ:MESO) Shares Gap Up to $6.24

Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened on Monday . The stock had previously closed at $6.24, but opened at $7.00. Mesoblast shares last traded at $7.32, with a volume of 239,415 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on MESO shares. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Mesoblast currently has a consensus rating of “Hold” and a consensus target price of $13.67.

Mesoblast Stock Performance

The firm has a market cap of $798.12 million, a P/E ratio of -6.59 and a beta of 3.59. The firm’s fifty day moving average price is $3.79 and its 200 day moving average price is $2.74.

Institutional Trading of Mesoblast

A hedge fund recently raised its stake in Mesoblast stock. Lazari Capital Management Inc. raised its stake in shares of Mesoblast Limited (NASDAQ:MESO) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,034 shares of the company’s stock after purchasing an additional 8,000 shares during the period. Lazari Capital Management Inc. owned 0.06% of Mesoblast worth $116,000 at the end of the most recent quarter. 1.43% of the stock is owned by institutional investors and hedge funds.

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.