Mesoblast (NASDAQ:MESO) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $16.19 and traded as low as $15.77. Mesoblast shares last traded at $15.80, with a volume of 456,921 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Mesoblast Stock Performance

The stock has a fifty day simple moving average of $16.11 and a two-hundred day simple moving average of $16.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.41 and a current ratio of 1.58. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -16.83 and a beta of 2.19.

Mesoblast (NASDAQ:MESO) last announced its earnings results on Thursday, January 29th. The company reported ($0.16) EPS for the quarter. The company had revenue of $25.67 million during the quarter. Analysts forecast that Mesoblast Limited will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of Mesoblast

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its stake in Mesoblast by 4.2% during the fourth quarter. Legal & General Group Plc now owns 679,023 shares of the company’s stock worth $12,237,000 after acquiring an additional 27,607 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Mesoblast during the 1st quarter worth about $3,209,000. Bank of America Corp DE increased its position in Mesoblast by 791.7% in the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock valued at $1,796,000 after buying an additional 98,960 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in Mesoblast during the 4th quarter worth approximately $839,000. Finally, Brooklyn Investment Group acquired a new position in Mesoblast during the 3rd quarter worth approximately $655,000. Institutional investors 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.