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

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MESO. Cantor Fitzgerald restated an "overweight" rating on shares of Mesoblast in a research report on Friday, January 12th. StockNews.com cut shares of Mesoblast from a "hold" rating to a "sell" rating in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.67.

Mesoblast Trading Up 13.8 %

The stock's 50-day moving average is $3.79 and its 200-day moving average is $2.74. The stock has a market cap of $810.68 million, a P/E ratio of -6.29 and a beta of 3.59.

Hedge Funds Weigh In On Mesoblast

A hedge fund recently raised its stake in Mesoblast stock. Lazari Capital Management Inc. grew its position in Mesoblast Limited (NASDAQ:MESO - Free Report) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,034 shares of the company's stock after purchasing an additional 8,000 shares during the quarter. Lazari Capital Management Inc. owned approximately 0.06% of Mesoblast worth $116,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.43% of the company's stock.

About Mesoblast

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.