Mesoblast (NASDAQ:MESO) Share Price Passes Above 50 Day Moving Average - Time to Sell?

Key Points

• Mesoblast shares moved above their 50-day moving average, reaching $17.29 and last trading at $17.14, compared with a 50-day average of $15.87.
• Analyst sentiment is mixed: Piper Sandler maintained an “overweight” rating and raised its price target to $39, while Weiss Ratings reiterated a “sell” rating. Overall, analysts assign the stock a consensus “Hold” rating with a $39 average target.
• The company reported a quarterly loss of $0.07 per share on $34.45 million in revenue, and analysts expect a full-year loss of $0.05 per share. Institutional investors own a relatively small 1.43% stake in Mesoblast.

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $15.87 and traded as high as $17.29. Mesoblast shares last traded at $17.14, with a volume of 86,062 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Piper Sandler reiterated an "overweight" rating and issued a $39.00 target price (up from $35.00) on shares of Mesoblast in a research report on Thursday, August 27th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Mesoblast in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $39.00.

Mesoblast Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.09 and a current ratio of 2.43. The firm's 50-day moving average price is $15.87 and its two-hundred day moving average price is $15.37. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -61.21 and a beta of 2.12.

Mesoblast (NASDAQ:MESO - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported ($0.07) EPS for the quarter. The business had revenue of $34.45 million for the quarter. On average, analysts expect that Mesoblast Limited will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MESO. Legal & General Group Plc increased its position in shares of Mesoblast by 4.2% during the 4th quarter. Legal & General Group Plc now owns 679,023 shares of the company's stock worth $12,237,000 after purchasing an additional 27,607 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Mesoblast in the 1st quarter worth approximately $3,209,000. Bank of America Corp DE boosted its position in shares of Mesoblast by 791.7% during the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company's stock worth $1,796,000 after purchasing an additional 98,960 shares during the period. Brooklyn Investment Group purchased a new position in shares of Mesoblast during the 3rd quarter worth approximately $655,000. Finally, Squarepoint Ops LLC increased its holdings in Mesoblast by 116.8% in the 3rd quarter. Squarepoint Ops LLC now owns 31,656 shares of the company's stock valued at $510,000 after purchasing an additional 17,053 shares during the last quarter. Institutional investors and hedge funds own 1.43% of the company's stock.

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.

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