Mesoblast (NASDAQ:MESO) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Mesoblast Limited (NASDAQ:MESO) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $15.27 and traded as high as $15.73. Mesoblast shares last traded at $15.67, with a volume of 123,023 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Mesoblast Stock Performance

The stock has a market cap of $2.03 billion, a PE ratio of -29.02 and a beta of 2.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.58 and a quick ratio of 1.41. The business has a 50 day moving average price of $15.27 and a two-hundred day moving average price of $16.65.

Mesoblast (NASDAQ:MESO) last announced its quarterly 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. As a group, equities research analysts forecast that Mesoblast Limited will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mesoblast news, Director Gregory George acquired 2,324,072 shares of the business’s stock in a transaction on Friday, April 10th. The shares were acquired at an average price of $1.48 per share, for a total transaction of $3,439,626.56. Following the completion of the acquisition, the director owned 8,324,072 shares in the company, valued at $12,319,626.56. This trade represents a 38.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 9,892,852 shares of company stock valued at $28,429,183 in the last 90 days. 18.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mesoblast

Institutional investors and hedge funds have recently modified their holdings of the stock. Rialto Wealth Management LLC bought a new position in shares of Mesoblast during the fourth quarter valued at $839,000. Tobias Financial Advisors Inc. increased its holdings in Mesoblast by 38.3% in the 4th quarter. Tobias Financial Advisors Inc. now owns 13,828 shares of the company’s stock worth $249,000 after buying an additional 3,828 shares in the last quarter. Legal & General Group Plc increased its holdings in Mesoblast by 4.2% in the 4th quarter. Legal & General Group Plc now owns 679,023 shares of the company’s stock worth $12,237,000 after buying an additional 27,607 shares in the last quarter. NBC Securities Inc. bought a new stake in Mesoblast in the 4th quarter worth about $89,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Mesoblast by 30.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock worth $43,000 after buying an additional 558 shares in the last quarter. 1.43% of the stock is currently owned by institutional investors.

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.