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

Mesoblast Limited (NASDAQ:MESO) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $18.16 and traded as low as $17.67. Mesoblast shares last traded at $17.96, with a volume of 179,661 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Mesoblast presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Mesoblast Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.77 and a current ratio of 1.99. The company’s 50 day moving average price is $18.20 and its 200-day moving average price is $16.61. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -19.60 and a beta of 2.14.

Institutional Investors Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of Mesoblast during the second quarter valued at $126,000. Vanguard Personalized Indexing Management LLC raised its holdings in Mesoblast by 27.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,331 shares of the company’s stock worth $145,000 after buying an additional 2,832 shares during the period. BCS Private Wealth Management Inc. purchased a new stake in Mesoblast during the fourth quarter valued at about $289,000. Choreo LLC boosted its holdings in shares of Mesoblast by 15.1% in the fourth quarter. Choreo LLC now owns 12,225 shares of the company’s stock worth $227,000 after buying an additional 1,600 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in shares of Mesoblast in the fourth quarter worth about $839,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

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.