Mesoblast (NASDAQ:MESO) Stock Price Up 9.4%

Mesoblast Limited (NASDAQ:MESO) shot up 9.4% during trading on Tuesday . The stock traded as high as $6.10 and last traded at $6.05. 86,065 shares changed hands during trading, a decline of 95% from the average session volume of 1,830,111 shares. The stock had previously closed at $5.53.

Analyst Upgrades and Downgrades

Several brokerages have commented on MESO. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research note on Friday, January 12th. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Mesoblast currently has an average rating of “Hold” and an average price target of $13.67.

Mesoblast Trading Up 9.4 %

The company has a market cap of $690.12 million, a PE ratio of -5.40 and a beta of 3.59. The firm’s fifty day moving average is $3.46 and its 200 day moving average is $2.64.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Mesoblast stock. Lazari Capital Management Inc. raised its stake in Mesoblast Limited (NASDAQ:MESO) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,034 shares of the company’s stock after buying an additional 8,000 shares during the quarter. Lazari Capital Management Inc. owned about 0.06% of Mesoblast worth $116,000 at the end of the most recent quarter. 1.43% of the stock is 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.