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

Mesoblast Limited (NASDAQ:MESO)’s stock price 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.

Analysts Set New Price Targets

A number of brokerages recently commented on MESO. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Piper Sandler upgraded Mesoblast from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $4.00 to $11.00 in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.00.

Mesoblast Price Performance

The firm has a 50 day moving average of $7.41 and a two-hundred day moving average of $5.07. The stock has a market cap of $791.27 million, a PE ratio of -6.24 and a beta of 3.48.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MESO. Chase Investment Counsel Corp acquired a new position in shares of Mesoblast in the first quarter valued at approximately $298,000. GAMMA Investing LLC grew its holdings in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after acquiring an additional 1,663 shares during the period. Perkins Coie Trust Co acquired a new position in Mesoblast during the second quarter worth $68,000. Finally, Chapin Davis Inc. grew its holdings in Mesoblast by 50.0% during the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after acquiring an additional 5,000 shares during the period. 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.