Mesoblast (NASDAQ:MESO) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Shares of Mesoblast Limited (NASDAQ:MESO) crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $15.78 and traded as low as $14.27. Mesoblast shares last traded at $14.27, with a volume of 143,761 shares traded.

Analyst Upgrades and Downgrades

MESO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, September 24th. Piper Sandler reissued an “overweight” rating and issued a $39.00 price target (up from $35.00) on shares of Mesoblast in a research note on Thursday, August 27th. Finally, Weiss Ratings raised shares of Mesoblast from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.00.

Mesoblast Stock Down 0.8%

The company has a 50 day simple moving average of $15.74 and a 200 day simple moving average of $15.25. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.19.

Mesoblast (NASDAQ:MESO) last issued its quarterly earnings results on Friday, July 31st. The company reported ($0.07) EPS for the quarter. The company had revenue of $34.45 million during the quarter. Equities research analysts forecast that Mesoblast Limited will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Mesoblast in the fourth quarter valued at about $32,000. GAMMA Investing LLC lifted its stake in shares of Mesoblast by 14.1% in the second quarter. GAMMA Investing LLC now owns 7,413 shares of the company’s stock worth $100,000 after buying an additional 916 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Mesoblast by 22.5% in the first quarter. Royal Bank of Canada now owns 26,266 shares of the company’s stock worth $404,000 after buying an additional 4,827 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Mesoblast by 608.4% in the first quarter. Bank of America Corp DE now owns 100,004 shares of the company’s stock worth $1,538,000 after buying an additional 85,888 shares in the last quarter. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited is a regenerative medicine company that develops and commercializes cellular medicines for serious inflammatory and immune-mediated conditions. The company’s platform is based primarily on specialized allogeneic mesenchymal lineage precursor cells, which are obtained from healthy adult donors and developed for use without patient-specific matching.

Mesoblast’s lead commercial product, Ryoncil (remestemcel-L), is an off-the-shelf cell therapy approved in the United States for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients.