Mesoblast (NASDAQ:MESO) Share Price Passes Below Fifty Day Moving Average of $3.02

Mesoblast Limited (NASDAQ:MESOGet Rating)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.02 and traded as low as $2.96. Mesoblast shares last traded at $3.08, with a volume of 63,923 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MESO. StockNews.com began coverage on shares of Mesoblast in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. Piper Sandler began coverage on shares of Mesoblast in a research report on Tuesday, September 6th. They issued an “overweight” rating and a $7.00 price objective on the stock.

Mesoblast Trading Down 4.6 %

The stock has a market capitalization of $454.07 million, a PE ratio of -4.40 and a beta of 3.10. The business’s 50-day moving average is $3.02 and its two-hundred day moving average is $3.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 1.36.

Mesoblast (NASDAQ:MESOGet Rating) last issued its earnings results on Tuesday, August 30th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.12). The company had revenue of $2.23 million for the quarter, compared to analysts’ expectations of $11.47 million. Mesoblast had a negative return on equity of 17.32% and a negative net margin of 894.33%. As a group, equities research analysts anticipate that Mesoblast Limited will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Mesoblast

Institutional investors have recently made changes to their positions in the stock. Tobias Financial Advisors Inc. purchased a new stake in shares of Mesoblast during the 1st quarter worth $84,000. Summit X LLC acquired a new position in shares of Mesoblast during the 1st quarter worth $60,000. BlackRock Inc. raised its stake in shares of Mesoblast by 20.8% during the 1st quarter. BlackRock Inc. now owns 864,638 shares of the company’s stock worth $3,649,000 after buying an additional 149,023 shares during the last quarter. Balyasny Asset Management LLC acquired a new position in shares of Mesoblast during the 3rd quarter worth $152,000. Finally, Millennium Management LLC raised its stake in shares of Mesoblast by 132.6% during the 2nd quarter. Millennium Management LLC now owns 42,690 shares of the company’s stock worth $95,000 after buying an additional 24,336 shares during the last quarter. 2.25% of the stock is currently owned by hedge funds and other institutional investors.

Mesoblast Company Profile

(Get Rating)

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, the United Kingdom, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases.

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