Mesoblast Limited (NASDAQ:MESO – Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.89, but opened at $8.28. Mesoblast shares last traded at $8.04, with a volume of 21,287 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.67.
Get Our Latest Research Report on MESO
Mesoblast Stock Up 3.8 %
Institutional Investors Weigh In On Mesoblast
A number of hedge funds have recently added to or reduced their stakes in the company. Prosperity Wealth Management Inc. acquired a new stake in shares of Mesoblast in the 3rd quarter valued at approximately $79,000. Chase Investment Counsel Corp acquired a new position in shares of Mesoblast during the 1st quarter worth $298,000. Finally, Lazari Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 8,000 shares in the last quarter. Institutional investors and hedge funds 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.
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