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

Mesoblast Limited (NASDAQ:MESO) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $18.19 and traded as low as $15.55. Mesoblast shares last traded at $15.95, with a volume of 283,979 shares trading hands.

Analysts Set New Price Targets

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

Mesoblast Stock Down 0.8%

The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -18.13 and a beta of 2.15. The business’s 50-day moving average is $18.19 and its 200-day moving average is $16.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.77 and a current ratio of 1.99.

Institutional Trading of Mesoblast

Several large investors have recently made changes to their positions in the business. NBC Securities Inc. acquired a new position in Mesoblast during the 4th quarter worth about $89,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Mesoblast by 30.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock worth $43,000 after acquiring an additional 558 shares during the last quarter. BCS Private Wealth Management Inc. acquired a new position in shares of Mesoblast during the fourth quarter worth approximately $289,000. Choreo LLC grew its stake in shares of Mesoblast by 15.1% during the fourth quarter. Choreo LLC now owns 12,225 shares of the company’s stock valued at $227,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Mesoblast in the fourth quarter valued at approximately $839,000. 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.