Mesoblast (NASDAQ:MESO) Shares Pass Below 50-Day Moving Average – What’s Next?

Mesoblast Limited (NASDAQ:MESO) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $17.67 and traded as low as $16.67. Mesoblast shares last traded at $16.83, with a volume of 325,615 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Mesoblast currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Mesoblast Trading Down 3.6%

The company has a current ratio of 1.99, a quick ratio of 1.77 and a debt-to-equity ratio of 0.11. The company has a market cap of $2.16 billion, a PE ratio of -19.13 and a beta of 2.14. The stock has a 50 day moving average price of $17.67 and a 200 day moving average price of $16.28.

Institutional Trading of Mesoblast

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Mesoblast by 55.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after buying an additional 1,012 shares during the period. JFS Wealth Advisors LLC bought a new stake in Mesoblast during the third quarter worth about $54,000. Farther Finance Advisors LLC purchased a new stake in Mesoblast in the third quarter worth about $58,000. Parkside Financial Bank & Trust bought a new position in shares of Mesoblast during the third quarter valued at approximately $72,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Mesoblast during the third quarter valued at approximately $113,000. 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.