Mesoblast (NASDAQ:MESO) Stock Passes Below Fifty Day Moving Average – Here’s Why

Mesoblast Limited (NASDAQ:MESO) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $16.32 and traded as low as $14.10. Mesoblast shares last traded at $14.61, with a volume of 268,610 shares traded.

Analyst Ratings Changes

MESO has been the topic of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of Mesoblast to a “strong-buy” rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a report on Wednesday, October 8th. Finally, Jefferies Financial Group lowered shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Mesoblast Price Performance

The company has a quick ratio of 1.77, a current ratio of 1.99 and a debt-to-equity ratio of 0.11. The company’s 50-day simple moving average is $16.32 and its 200 day simple moving average is $13.96. The company has a market capitalization of $1.87 billion, a P/E ratio of -13.04 and a beta of 2.18.

Hedge Funds Weigh In On Mesoblast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in Mesoblast by 55.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock valued at $46,000 after buying an additional 1,012 shares during the last quarter. Advisors Preferred LLC lifted its holdings in shares of Mesoblast by 224.9% during the first quarter. Advisors Preferred LLC now owns 4,578 shares of the company’s stock worth $54,000 after buying an additional 3,169 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Mesoblast during the third quarter worth approximately $58,000. Parkside Financial Bank & Trust bought a new position in Mesoblast during the third quarter worth $72,000. Finally, Raymond James Financial Inc. acquired a new position in Mesoblast during the 2nd quarter valued at $86,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage cells.