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

Shares of Mesoblast Limited (NASDAQ:MESO) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $15.85 and traded as low as $14.19. Mesoblast shares last traded at $14.32, with a volume of 332,203 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $39.00 price target (up from $35.00) on shares of Mesoblast in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a research report on Friday, July 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research note on Thursday, September 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Mesoblast presently has a consensus rating of “Hold” and a consensus target price of $39.00.

Mesoblast Stock Performance

The stock has a market capitalization of $1.83 billion, a P/E ratio of -50.29 and a beta of 2.14. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $15.83 and a two-hundred day simple moving average of $15.28.

Mesoblast (NASDAQ:MESO) last issued its earnings results on Friday, July 31st. The company reported ($0.07) earnings per share for the quarter. The company had revenue of $34.45 million for the quarter. On average, equities analysts forecast that Mesoblast Limited will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Mesoblast

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Mesoblast by 14.1% in the second quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock valued at $100,000 after buying an additional 916 shares during the last quarter. Bank of America Corp DE increased its holdings 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 during the last quarter. Royal Bank of Canada raised its stake in Mesoblast by 22.5% in the 1st quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock valued at $404,000 after acquiring an additional 4,827 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Mesoblast in the 4th quarter valued at $32,000. Finally, Tobias Financial Advisors Inc. lifted its holdings in Mesoblast by 38.3% during the 4th quarter. Tobias Financial Advisors Inc. now owns 13,828 shares of the company’s stock valued at $249,000 after purchasing an additional 3,828 shares during the last quarter. Institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited is a regenerative medicine company that develops and commercializes cellular medicines for serious inflammatory and immune-mediated conditions. The company’s platform is based primarily on specialized allogeneic mesenchymal lineage precursor cells, which are obtained from healthy adult donors and developed for use without patient-specific matching.

Mesoblast’s lead commercial product, Ryoncil (remestemcel-L), is an off-the-shelf cell therapy approved in the United States for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients.