Mesoblast (NASDAQ:MESO) Stock Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Mesoblast shares fell below their 50-day moving average, trading as low as $15.21 and last changing hands at $15.29, compared with a 50-day average of $16.09.
• 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 rate the stock “Hold,” with a $39 average 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 biotechnology company develops regenerative cell therapies, including Ryoncil for pediatric graft-versus-host disease.

Mesoblast Limited (NASDAQ:MESO - Get Free Report) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $16.09 and traded as low as $15.21. Mesoblast shares last traded at $15.29, with a volume of 451,398 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on MESO. Piper Sandler reaffirmed an "overweight" rating and set a $39.00 price objective (up from $35.00) on shares of Mesoblast in a research report on Thursday, August 27th. Weiss Ratings reissued a "sell (e+)" rating on shares of Mesoblast in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average 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 current ratio of 2.43 and a quick ratio of 2.09. The company has a fifty day moving average price of $16.09 and a two-hundred day moving average price of $15.31. The company has a market capitalization of $1.99 billion, a P/E ratio of -54.61 and a beta of 2.12.

Mesoblast (NASDAQ:MESO - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported ($0.07) earnings per share for the quarter. The firm had revenue of $34.45 million during the quarter. Equities analysts forecast that Mesoblast Limited will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mesoblast

Several large investors have recently modified their holdings of MESO. Caitong International Asset Management Co. Ltd acquired a new position in Mesoblast in the fourth quarter valued at $32,000. GAMMA Investing LLC raised its position in shares of Mesoblast by 14.1% in the 2nd quarter. GAMMA Investing LLC now owns 7,413 shares of the company's stock worth $100,000 after acquiring an additional 916 shares in the last quarter. Tobias Financial Advisors Inc. raised its position in shares of Mesoblast by 38.3% in the 4th quarter. Tobias Financial Advisors Inc. now owns 13,828 shares of the company's stock worth $249,000 after acquiring an additional 3,828 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of 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 period. Finally, Bank of America Corp DE boosted its position in shares of Mesoblast by 608.4% during the 1st quarter. Bank of America Corp DE now owns 100,004 shares of the company's stock valued at $1,538,000 after purchasing an additional 85,888 shares in the last quarter. 1.43% of the stock is currently owned by institutional investors and hedge funds.

About Mesoblast

Mesoblast Limited NASDAQ: MESO is a biotechnology company focused on developing and commercializing regenerative medicine products based on proprietary mesenchymal lineage stromal cells. The company's cell therapies are designed to address serious inflammatory and immune-mediated conditions by potentially reducing inflammation, supporting tissue repair and modulating immune responses.

Mesoblast's lead product, remestemcel-L, is marketed in the United States as Ryoncil for the treatment of steroid-refractory acute graft-versus-host disease in pediatric patients.

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