Mesoblast (NASDAQ:MESO) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.92 and traded as low as $13.75. Mesoblast shares last traded at $13.76, with a volume of 123,959 shares trading hands.

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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold”.

Mesoblast Stock Down 1.2%

The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -25.48 and a beta of 2.05. 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 firm has a 50 day moving average price of $14.92 and a two-hundred day moving average price of $16.34.

Insider Buying and Selling at Mesoblast

In other news, Director Gregory George acquired 4,000,000 shares of Mesoblast stock in a transaction dated Saturday, April 4th. The shares were acquired at an average cost of $1.42 per share, with a total value of $5,680,000.00. Following the purchase, the director directly owned 12,000,000 shares of the company’s stock, valued at approximately $17,040,000. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 9,892,852 shares of company stock valued at $28,429,183. Insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently modified their holdings of MESO. Caitong International Asset Management Co. Ltd acquired a new position in shares of Mesoblast in the 4th quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Mesoblast by 30.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,383 shares of the company’s stock worth $43,000 after acquiring an additional 558 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Mesoblast by 55.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after acquiring an additional 1,012 shares in the last quarter. JFS Wealth Advisors LLC acquired a new position in Mesoblast during the 3rd quarter worth approximately $54,000. Finally, Raymond James Financial Inc. acquired a new position in Mesoblast during the 2nd quarter worth approximately $86,000. 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.