Mesoblast (NASDAQ:MESO) Stock Crosses Below 50 Day Moving Average – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $17.19 and traded as low as $15.02. Mesoblast shares last traded at $15.07, with a volume of 129,446 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Mesoblast Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $17.19 and its two-hundred day moving average price is $16.87. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -17.13 and a beta of 2.17.

Mesoblast (NASDAQ:MESO) last posted its quarterly earnings results on Thursday, January 29th. The company reported ($0.16) EPS for the quarter. The business had revenue of $25.67 million for the quarter. Equities research analysts forecast that Mesoblast Limited will post -0.7 EPS for the current fiscal year.

Institutional Trading of Mesoblast

A number of hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in Mesoblast during the fourth quarter valued at approximately $34,000. Tobias Financial Advisors Inc. lifted its holdings in Mesoblast by 38.3% in the fourth quarter. Tobias Financial Advisors Inc. now owns 13,828 shares of the company’s stock valued at $249,000 after acquiring an additional 3,828 shares during the period. Legal & General Group Plc boosted its position in Mesoblast by 4.2% in the 4th quarter. Legal & General Group Plc now owns 679,023 shares of the company’s stock worth $12,237,000 after purchasing an additional 27,607 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mesoblast by 30.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock worth $43,000 after purchasing an additional 558 shares during the period. Finally, Choreo LLC grew its stake in shares of Mesoblast by 15.1% during the 4th quarter. Choreo LLC now owns 12,225 shares of the company’s stock worth $227,000 after purchasing an additional 1,600 shares during the period. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.