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

Mesoblast Limited (NASDAQ:MESO)’s share price 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MESO shares. StockNews.com lowered 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 Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Mesoblast currently has a consensus rating of “Hold” and an average target price of $13.67.

Mesoblast Stock Up 13.1 %

The company has a 50-day moving average of $7.29 and a 200 day moving average of $4.40. The stock has a market capitalization of $878.04 million, a PE ratio of -6.60 and a beta of 3.48.

Hedge Funds Weigh In On 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:MESO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 59,600 shares of the company’s stock, valued at approximately $298,000. Chase Investment Counsel Corp owned about 0.05% of Mesoblast as of its most recent SEC filing. 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.