Mesoblast (NASDAQ:MESO) Shares Gap Down to $6.78

Mesoblast Limited (NASDAQ:MESO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $6.78, but opened at $6.50. Mesoblast shares last traded at $6.46, with a volume of 30,076 shares traded.

Wall Street Analyst Weigh In

MESO has been the topic of a number of analyst reports. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.67.

Mesoblast Stock Performance

The stock has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $4.38.

Institutional Trading of Mesoblast

A hedge fund recently bought a new stake in Mesoblast stock. Chase Investment Counsel Corp bought a new stake in shares of Mesoblast Limited (NASDAQ:MESO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 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.

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.