Mesoblast (NASDAQ:MESO) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $14.93 and traded as high as $15.77. Mesoblast shares last traded at $15.31, with a volume of 188,306 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Mesoblast Stock Down 4.8%

The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -54.68 and a beta of 2.08. The business’s 50-day moving average is $14.93 and its 200-day moving average is $15.73.

Institutional Trading of Mesoblast

Several hedge funds and other institutional investors have recently bought and sold shares of MESO. Legal & General Group Plc lifted its holdings in Mesoblast by 4.2% in the fourth quarter. Legal & General Group Plc now owns 679,023 shares of the company’s stock valued at $12,237,000 after acquiring an additional 27,607 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Mesoblast during the first quarter worth $3,209,000. Bank of America Corp DE grew its position in Mesoblast by 791.7% during the third 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 during the period. Brooklyn Investment Group purchased a new position in Mesoblast in the third quarter valued at $655,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Mesoblast by 116.8% during the 3rd quarter. Squarepoint Ops LLC now owns 31,656 shares of the company’s stock worth $510,000 after acquiring an additional 17,053 shares in the last quarter. 1.43% of the stock is owned by institutional investors and hedge funds.

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.