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

Mesoblast Limited (NASDAQ:MESO) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $16.63 and traded as low as $14.23. Mesoblast shares last traded at $14.36, with a volume of 259,346 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Mesoblast Trading Down 2.8%

The company has a market cap of $1.85 billion, a PE ratio of -16.32 and a beta of 2.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.58 and a quick ratio of 1.41. The company has a 50-day moving average of $16.63 and a 200 day moving average of $16.84.

Mesoblast (NASDAQ:MESO) last issued its quarterly earnings data on Thursday, January 29th. The company reported ($0.16) earnings per share for the quarter. The business had revenue of $25.67 million during the quarter. Analysts predict that Mesoblast Limited will post -0.7 earnings per share for the current year.

Institutional Trading of Mesoblast

A number of institutional investors have recently bought and sold shares of MESO. Legal & General Group Plc boosted its stake in Mesoblast by 4.2% during the fourth quarter. Legal & General Group Plc now owns 679,023 shares of the company’s stock worth $12,237,000 after buying an additional 27,607 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Mesoblast in the 1st quarter worth about $3,209,000. Bank of America Corp DE lifted its holdings in shares of Mesoblast by 791.7% in the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after acquiring an additional 98,960 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Mesoblast during the 4th quarter worth about $839,000. Finally, Brooklyn Investment Group purchased a new position in shares of Mesoblast during the 3rd quarter worth about $655,000. 1.43% of the stock is currently owned by institutional investors.

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.