Mesoblast (NASDAQ:MESO) Shares Gap Down to $7.40

Mesoblast Limited (NASDAQ:MESO) shares gapped down before the market opened on Monday . The stock had previously closed at $7.40, but opened at $7.15. Mesoblast shares last traded at $7.03, with a volume of 17,952 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MESO. StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a report on Thursday, June 20th. Finally, Piper Sandler raised Mesoblast from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.00 to $11.00 in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Mesoblast has a consensus rating of “Hold” and an average price target of $16.00.

Mesoblast Price Performance

The company has a market capitalization of $791.27 million, a P/E ratio of -6.24 and a beta of 3.48. The stock has a 50-day moving average price of $7.41 and a 200-day moving average price of $5.07.

Institutional Investors Weigh In On Mesoblast

A number of hedge funds have recently added to or reduced their stakes in MESO. GAMMA Investing LLC increased its holdings in Mesoblast by 50.1% in the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares in the last quarter. Perkins Coie Trust Co bought a new stake in Mesoblast in the second quarter worth approximately $68,000. Chapin Davis Inc. increased its holdings in Mesoblast by 50.0% in the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Chase Investment Counsel Corp bought a new stake in Mesoblast in the first quarter worth approximately $298,000. 1.43% of the stock is currently owned by institutional investors.

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.