Mesoblast (NASDAQ:MESO) Stock Passes Below 50-Day Moving Average of $2.63

Shares of Mesoblast Limited (NASDAQ:MESO) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.63 and traded as low as $1.43. Mesoblast shares last traded at $1.45, with a volume of 250,505 shares changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Cantor Fitzgerald cut their price objective on Mesoblast from $23.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, August 31st. Chardan Capital lowered their price objective on shares of Mesoblast from $2.00 to $1.50 and set a “sell” rating on the stock in a research report on Friday, August 4th. StockNews.com upgraded shares of Mesoblast to a “sell” rating in a research note on Tuesday, September 5th. William Blair lowered shares of Mesoblast from an “outperform” rating to a “market perform” rating in a research note on Friday, August 4th. Finally, Maxim Group downgraded Mesoblast from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.13.

Mesoblast Price Performance

The firm’s 50 day moving average price is $2.63 and its two-hundred day moving average price is $3.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.14. The stock has a market cap of $236.12 million, a PE ratio of -2.59 and a beta of 3.32.

Mesoblast (NASDAQ:MESO) last released its quarterly earnings data on Wednesday, August 30th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The business had revenue of $2.14 million during the quarter, compared to analyst estimates of $2.00 million. Mesoblast had a negative net margin of 1,061.43% and a negative return on equity of 16.32%. On average, research analysts expect that Mesoblast Limited will post -0.47 earnings per share for the current year.

Institutional Trading of Mesoblast

A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. bought a new stake in shares of Mesoblast during the third quarter valued at about $33,000. Aries Wealth Management purchased a new position in shares of Mesoblast during the first quarter worth approximately $33,000. EWA LLC bought a new stake in shares of Mesoblast in the 1st quarter worth approximately $40,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Mesoblast in the 1st quarter valued at $41,000. Finally, Signaturefd LLC grew its holdings in shares of Mesoblast by 199.4% during the 2nd quarter. Signaturefd LLC now owns 10,855 shares of the company’s stock valued at $42,000 after purchasing an additional 7,230 shares during the last quarter. Hedge funds and other institutional investors own 2.60% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage cells.