Mesoblast (NASDAQ:MESO) Shares Cross Above Fifty Day Moving Average - Here's Why

Key Points

• Technical move: Mesoblast shares crossed above their 50‑day moving average, trading as high as $16.00 versus a 50‑day average of $15.44 and last at $15.74 on volume of 230,210.
• Significant insider buying: Director Gregory George acquired 4,000,000 shares at an average $1.42, insiders purchased ~9,892,852 shares in the last quarter and now own 18.8% of the company.
• Analysts and fundamentals: The consensus rating is "Hold" (mixed analyst opinions), Mesoblast reported -$0.16 EPS last quarter, trades at a negative P/E (-29.15) and has a $2.03 billion market cap.

Mesoblast Limited (NASDAQ:MESO - Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.44 and traded as high as $16.00. Mesoblast shares last traded at $15.74, with a volume of 230,210 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Mesoblast in a report on Thursday, January 22nd. One 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 stock. According to data from MarketBeat.com, Mesoblast currently has a consensus rating of "Hold".

Mesoblast Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -29.15 and a beta of 2.19. The company's 50-day simple moving average is $15.44 and its 200-day simple moving average is $16.77.

Mesoblast (NASDAQ:MESO - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The company reported ($0.16) earnings per share (EPS) for the quarter. The business had revenue of $25.67 million for the quarter. Analysts predict that Mesoblast Limited will post -0.49 EPS for the current fiscal year.

Insider Transactions at Mesoblast

In other news, Director Gregory George acquired 4,000,000 shares of the stock in a transaction on Saturday, April 4th. The shares were purchased at an average cost of $1.42 per share, for a total transaction of $5,680,000.00. Following the transaction, the director owned 12,000,000 shares in the company, valued at approximately $17,040,000. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 9,892,852 shares of company stock valued at $28,429,183 in the last quarter. Insiders own 18.80% of the company's stock.

Hedge Funds Weigh In On Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in MESO. Goldman Sachs Group Inc. purchased a new position in Mesoblast during the 1st quarter worth approximately $3,209,000. Creative Planning purchased a new position in Mesoblast during the 2nd quarter worth approximately $141,000. Raymond James Financial Inc. purchased a new position in Mesoblast during the 2nd quarter worth approximately $86,000. Farther Finance Advisors LLC purchased a new position in Mesoblast during the 3rd quarter worth approximately $58,000. Finally, Concurrent Investment Advisors LLC purchased a new position in Mesoblast during the 3rd quarter worth approximately $161,000. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

Mesoblast Company Profile

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.

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