Mesoblast (NASDAQ:MESO) Shares Gap Up to $6.24

Mesoblast Limited (NASDAQ:MESO)’s share price gapped up before the market opened on Monday . The stock had previously closed at $6.24, but opened at $7.00. Mesoblast shares last traded at $7.32, with a volume of 239,415 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on MESO. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a report on Friday, January 12th. StockNews.com upgraded Mesoblast from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.67.

Mesoblast Price Performance

The stock’s 50-day simple moving average is $3.99 and its 200 day simple moving average is $2.81.

Hedge Funds Weigh In On Mesoblast

An institutional investor recently bought a new position in Mesoblast stock. Prosperity Wealth Management Inc. bought a new stake in Mesoblast Limited (NASDAQ:MESO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 64,150 shares of the company’s stock, valued at approximately $79,000. 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.