Mesoblast (NASDAQ:MESO) Shares Gap Down to $8.02

Shares of Mesoblast Limited (NASDAQ:MESOGet Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $8.02, but opened at $7.50. Mesoblast shares last traded at $7.36, with a volume of 119,480 shares.

Analysts Set New Price Targets

Separately, StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. 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 company’s stock. Based on data from MarketBeat.com, Mesoblast has a consensus rating of “Hold” and a consensus target price of $13.67.

Read Our Latest Analysis on MESO

Mesoblast Stock Down 4.6 %

The firm has a fifty day moving average price of $6.26 and a 200 day moving average price of $3.56. The company has a market cap of $873.48 million, a P/E ratio of -6.87 and a beta of 3.45.

Hedge Funds Weigh In On Mesoblast

Several hedge funds have recently added to or reduced their stakes in the company. Chase Investment Counsel Corp bought a new position in Mesoblast in the first quarter valued at about $298,000. Lazari Capital Management Inc. boosted its holdings in Mesoblast by 9.3% in the third quarter. Lazari Capital Management Inc. now owns 94,034 shares of the company’s stock valued at $116,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Prosperity Wealth Management Inc. acquired a new position in Mesoblast in the third quarter valued at about $79,000. Institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

(Get Free Report)

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.

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