Mesoblast (NASDAQ:MESO) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Mesoblast Limited (NASDAQ:MESO)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.92 and traded as low as $13.75. Mesoblast shares last traded at $13.76, with a volume of 123,959 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mesoblast in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Mesoblast has a consensus rating of “Hold”.

Mesoblast Trading Down 1.2%

The stock has a market cap of $1.78 billion, a PE ratio of -25.48 and a beta of 2.05. The business has a 50-day moving average of $14.92 and a 200 day moving average of $16.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.41 and a current ratio of 1.58.

Insider Buying and Selling

In other Mesoblast news, Director Gregory George purchased 2,324,072 shares of the stock in a transaction on Friday, April 10th. The stock was bought at an average price of $1.48 per share, for a total transaction of $3,439,626.56. Following the acquisition, the director directly owned 8,324,072 shares of the company’s stock, valued at $12,319,626.56. This represents a 38.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders bought 9,892,852 shares of company stock valued at $28,429,183. 18.80% of the stock is owned by insiders.

Institutional Trading of Mesoblast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MESO. Legal & General Group Plc purchased a new stake in Mesoblast in the 3rd quarter valued at about $10,501,000. Goldman Sachs Group Inc. purchased a new stake in Mesoblast in the 1st quarter valued at about $3,209,000. Bank of America Corp DE grew its holdings in Mesoblast by 791.7% in the 3rd quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock valued at $1,796,000 after buying an additional 98,960 shares during the period. Rialto Wealth Management LLC purchased a new stake in Mesoblast in the 4th quarter valued at about $839,000. Finally, Brooklyn Investment Group purchased a new stake in Mesoblast in the 3rd quarter valued at about $655,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.