Mesoblast (NASDAQ:MESO) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Mesoblast Limited (NASDAQ:MESO)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.04 and traded as low as $13.70. Mesoblast shares last traded at $13.95, with a volume of 260,170 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a research note on Tuesday, April 21st. One equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Mesoblast Price Performance

The company has a current ratio of 1.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average price is $15.04 and its 200 day moving average price is $16.38. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -25.83 and a beta of 2.05.

Insider Activity at Mesoblast

In related news, Director Gregory George acquired 2,324,072 shares of Mesoblast stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average price of $1.48 per share, for a total transaction of $3,439,626.56. Following the completion of the purchase, the director directly owned 8,324,072 shares of the company’s stock, valued at approximately $12,319,626.56. This trade represents a 38.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 9,892,852 shares of company stock valued at $28,429,183 in the last ninety days. 18.80% of the stock is owned by company insiders.

Institutional Trading of Mesoblast

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Mesoblast by 30.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock valued at $43,000 after purchasing an additional 558 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Mesoblast by 5.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,047 shares of the company’s stock valued at $226,000 after purchasing an additional 716 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Mesoblast by 55.6% in the third quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock valued at $46,000 after purchasing an additional 1,012 shares during the period. Choreo LLC lifted its stake in shares of Mesoblast by 15.1% in the fourth quarter. Choreo LLC now owns 12,225 shares of the company’s stock valued at $227,000 after purchasing an additional 1,600 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Mesoblast in the fourth quarter valued at about $32,000. 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.