Mesoblast (NASDAQ:MESO) Stock Breaks Below Fifty Day Moving Average - Here's Why

Key Points

• Mesoblast shares fell below their 50-day moving average, trading as low as $14.19 and last changing hands at $14.32, compared with a 50-day average of $15.85.
• Analyst opinions remain mixed: Piper Sandler raised its price target to $39 and maintained an “overweight” rating, while Weiss Ratings reiterated a “sell” rating. The overall consensus is “Hold,” with a $39 price target.
• Mesoblast reported a quarterly loss of $0.07 per share on $34.45 million in revenue, while institutional ownership remains limited at 1.43%; the company’s lead product, Ryoncil, is approved in the U.S. for pediatric steroid-refractory acute graft-versus-host disease.

Mesoblast Limited (NASDAQ:MESO - Get Free Report) shares passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $15.85 and traded as low as $14.19. Mesoblast shares last traded at $14.32, with a volume of 332,203 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating on shares of Mesoblast in a research note on Thursday, September 24th. Piper Sandler reiterated an "overweight" rating and set a $39.00 price target (up from $35.00) on shares of Mesoblast in a research note on Thursday, August 27th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Mesoblast in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.00.

Mesoblast Stock Down 2.3%

The business's 50 day moving average is $15.85 and its 200-day moving average is $15.29. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -51.14 and a beta of 2.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.09 and a current ratio of 2.43.

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

Institutional Investors Weigh In On Mesoblast

Large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Mesoblast by 608.4% in the first quarter. Bank of America Corp DE now owns 100,004 shares of the company's stock valued at $1,538,000 after acquiring an additional 85,888 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Mesoblast by 14.1% during the second quarter. GAMMA Investing LLC now owns 7,413 shares of the company's stock worth $100,000 after purchasing an additional 916 shares in the last quarter. Royal Bank of Canada raised its stake in Mesoblast by 22.5% in the 1st quarter. Royal Bank of Canada now owns 26,266 shares of the company's stock valued at $404,000 after purchasing an additional 4,827 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Mesoblast in the 4th quarter valued at $32,000. Finally, Tobias Financial Advisors Inc. boosted its stake in Mesoblast by 38.3% during the 4th quarter. Tobias Financial Advisors Inc. now owns 13,828 shares of the company's stock worth $249,000 after purchasing an additional 3,828 shares during the last quarter. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

About Mesoblast

Mesoblast Limited is a regenerative medicine company that develops and commercializes cellular medicines for serious inflammatory and immune-mediated conditions. The company's platform is based primarily on specialized allogeneic mesenchymal lineage precursor cells, which are obtained from healthy adult donors and developed for use without patient-specific matching.

Mesoblast's lead commercial product, Ryoncil (remestemcel-L), is an off-the-shelf cell therapy approved in the United States for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients.

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