Mesoblast Limited (NASDAQ:MESO – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $15.44, but opened at $16.21. Mesoblast shares last traded at $16.27, with a volume of 96,815 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.
Mesoblast Price Performance
Hedge Funds Weigh In On Mesoblast
A number of large investors have recently added to or reduced their stakes in MESO. Rialto Wealth Management LLC purchased a new stake in shares of Mesoblast during the fourth quarter valued at about $839,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Mesoblast in the 4th quarter worth approximately $34,000. Bank of America Corp DE raised its stake in shares of Mesoblast by 608.4% during the 1st quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock worth $1,538,000 after acquiring an additional 85,888 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Mesoblast by 22.5% during the 1st quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock worth $404,000 after acquiring an additional 4,827 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Mesoblast by 14.1% during the second quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock valued at $100,000 after acquiring an additional 916 shares during the last quarter. 1.43% of the stock is currently owned by institutional investors.
About Mesoblast
Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.
The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.
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