Mesoblast (NASDAQ:MESO) Shares Gap Down to $6.29

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $6.29, but opened at $6.13. Mesoblast shares last traded at $5.95, with a volume of 115,383 shares changing hands.

Analyst Upgrades and Downgrades

MESO has been the topic of several recent research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Mesoblast in a report on Friday, January 12th. StockNews.com cut Mesoblast from a "hold" rating to a "sell" rating in a report on Tuesday, April 2nd. Two 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 MarketBeat, Mesoblast has an average rating of "Hold" and an average price target of $13.67.

Mesoblast Stock Down 7.0 %

The stock has a market cap of $667.31 million, a P/E ratio of -5.22 and a beta of 3.59. The stock has a fifty day simple moving average of $2.83 and a 200-day simple moving average of $2.46.

Hedge Funds Weigh In On Mesoblast

Several institutional investors have recently modified their holdings of MESO. Vident Investment Advisory LLC raised its position in Mesoblast by 12.8% in the 4th quarter. Vident Investment Advisory LLC now owns 28,080 shares of the company's stock valued at $82,000 after buying an additional 3,191 shares during the last quarter. Lazari Capital Management Inc. raised its position in Mesoblast by 9.3% in the 3rd quarter. Lazari Capital Management Inc. now owns 94,034 shares of the company's stock valued at $116,000 after buying an additional 8,000 shares during the last quarter. EWA LLC acquired a new stake in Mesoblast in the 1st quarter valued at approximately $40,000. Envestnet Asset Management Inc. raised its position in Mesoblast by 99.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,008 shares of the company's stock valued at $76,000 after buying an additional 12,954 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Mesoblast by 55.0% in the 2nd 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 last quarter. Institutional investors 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.