Mesoblast (NASDAQ:MESO) Shares Gap Up to $7.24

Shares of Mesoblast Limited (NASDAQ:MESO) gapped up before the market opened on Tuesday . The stock had previously closed at $7.24, but opened at $7.39. Mesoblast shares last traded at $7.51, with a volume of 5,424 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research note on Tuesday, June 4th. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Two research 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.67.

Mesoblast Price Performance

The company’s fifty day moving average is $6.99 and its two-hundred day moving average is $4.06.

Institutional Trading of Mesoblast

An institutional investor recently bought a new position in Mesoblast stock. Chase Investment Counsel Corp bought a new stake in Mesoblast Limited (NASDAQ:MESO) in the 1st quarter, according to the company in its most recent 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 about 0.05% of Mesoblast as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.