Mesoblast (NASDAQ:MESO) Shares Gap Down to $7.73

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $7.73, but opened at $7.37. Mesoblast shares last traded at $7.45, with a volume of 69,988 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating on shares of Mesoblast in a research note on Thursday, June 20th. StockNews.com downgraded Mesoblast from a "hold" rating to a "sell" rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Mesoblast currently has a consensus rating of "Hold" and an average target price of $13.67.

Mesoblast Price Performance

The stock has a market cap of $867.18 million, a P/E ratio of -6.78 and a beta of 3.48. The stock's 50-day moving average is $7.35 and its two-hundred day moving average is $4.54.

Institutional Investors Weigh In On Mesoblast

A hedge fund recently bought a new stake in Mesoblast stock. Chase Investment Counsel Corp purchased a new stake in shares of Mesoblast Limited (NASDAQ:MESO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 59,600 shares of the company's stock, valued at approximately $298,000. Chase Investment Counsel Corp owned approximately 0.05% of Mesoblast as of its most recent SEC filing. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

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.