Mesoblast (NASDAQ:MESO) Shares Pass Below Fifty Day Moving Average – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $18.16 and traded as low as $17.67. Mesoblast shares last traded at $17.96, with a volume of 179,661 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mesoblast in a report on Thursday, January 22nd. Two research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

Mesoblast Trading Down 4.0%

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 firm has a 50-day moving average price of $18.16 and a 200-day moving average price of $16.57. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -20.41 and a beta of 2.14.

Institutional Investors Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in shares of Mesoblast in the 1st quarter worth approximately $3,209,000. Vanguard Personalized Indexing Management LLC lifted its stake in Mesoblast by 27.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,331 shares of the company’s stock valued at $145,000 after purchasing an additional 2,832 shares during the last quarter. R Squared Ltd bought a new stake in Mesoblast during the second quarter worth approximately $126,000. Summit X LLC grew its position in Mesoblast by 0.6% in the second quarter. Summit X LLC now owns 199,295 shares of the company’s stock worth $2,170,000 after buying an additional 1,132 shares during the last quarter. Finally, Creative Planning acquired a new position in Mesoblast in the second quarter worth approximately $141,000. 1.43% of the stock is owned by institutional investors and hedge funds.

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.