Mesoblast (NASDAQ:MESO) Shares Gap Up to $6.00

Mesoblast Limited (NASDAQ:MESO) gapped up prior to trading on Friday . The stock had previously closed at $6.00, but opened at $6.48. Mesoblast shares last traded at $6.15, with a volume of 20,377 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Mesoblast from a “sell” rating to a “hold” rating in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research note on Thursday, June 20th. Finally, Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $4.00 to $11.00 in a report on Tuesday, July 23rd.

Mesoblast Trading Up 2.5 %

The stock has a market cap of $702.19 million, a PE ratio of -5.36 and a beta of 3.48. The business has a 50 day moving average of $7.10 and a 200-day moving average of $5.30.

Institutional Trading of Mesoblast

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after acquiring an additional 1,663 shares in the last quarter. Perkins Coie Trust Co purchased a new stake in Mesoblast during the second quarter worth $68,000. Pine Valley Investments Ltd Liability Co acquired a new stake in Mesoblast in the second quarter valued at $80,000. Chapin Davis Inc. increased its position in shares of Mesoblast by 50.0% in the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after buying an additional 5,000 shares in the last quarter. Finally, Chase Investment Counsel Corp acquired a new position in shares of Mesoblast during the 1st quarter worth $298,000. 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.