Mesoblast (NASDAQ:MESO) Shares Gap Down to $6.59

Mesoblast Limited (NASDAQ:MESOGet Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.59, but opened at $6.00. Mesoblast shares last traded at $6.35, with a volume of 300,227 shares.

Wall Street Analyst Weigh In

MESO has been the subject of a number of research analyst reports. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research note on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.67.

View Our Latest Stock Report on Mesoblast

Mesoblast Price Performance

The company has a fifty day moving average of $2.41 and a 200-day moving average of $2.34. The firm has a market cap of $739.44 million, a P/E ratio of -5.40 and a beta of 3.60.

Institutional Investors Weigh In On Mesoblast

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new stake in Mesoblast during the fourth quarter worth about $344,000. BlackRock Inc. lifted its stake in Mesoblast by 52.2% in the first quarter. BlackRock Inc. now owns 83,464 shares of the company’s stock valued at $275,000 after purchasing an additional 28,638 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Mesoblast by 55.0% in the second quarter. Wells Fargo & Company MN now owns 52,813 shares of the company’s stock valued at $206,000 after buying an additional 18,747 shares during the period. Jane Street Group LLC purchased a new position in shares of Mesoblast during the 4th quarter valued at $187,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Mesoblast during the 3rd quarter worth $152,000. 1.43% of the stock is owned by institutional investors.

Mesoblast Company Profile

(Get Free Report)

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.

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