Mesoblast (NASDAQ:MESO) Shares Gap Down to $7.10

Mesoblast Limited (NASDAQ:MESO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $7.10, but opened at $6.39. Mesoblast shares last traded at $6.53, with a volume of 84,636 shares.

Analyst Ratings Changes

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

Mesoblast Stock Performance

The firm has a market cap of $751.30 million, a PE ratio of -5.80 and a beta of 3.59. The company’s 50-day simple moving average is $3.89 and its two-hundred day simple moving average is $2.78.

Institutional Investors Weigh In On Mesoblast

A hedge fund recently bought a new stake in Mesoblast stock. Prosperity Wealth Management Inc. purchased a new stake in shares of Mesoblast Limited (NASDAQ:MESO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 64,150 shares of the company’s stock, valued at approximately $79,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.