Mesoblast (NASDAQ:MESO) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Mesoblast Limited (NASDAQ:MESO)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $15.03 and traded as low as $14.45. Mesoblast shares last traded at $14.76, with a volume of 231,972 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a research note 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 company. According to MarketBeat, the company has an average rating of “Hold”.

Mesoblast Trading Up 4.3%

The firm has a 50 day simple moving average of $15.04 and a 200 day simple moving average of $16.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.41 and a current ratio of 1.58. The firm has a market cap of $1.99 billion, a P/E ratio of -28.52 and a beta of 2.09.

Mesoblast (NASDAQ:MESO) last issued its earnings results on Thursday, January 29th. The company reported ($0.16) EPS for the quarter. The business had revenue of $25.67 million during the quarter. On average, equities research analysts predict that Mesoblast Limited will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Mesoblast news, Director Gregory George purchased 4,000,000 shares of the stock in a transaction on Saturday, April 4th. The shares were purchased at an average price of $1.42 per share, with a total value of $5,680,000.00. Following the acquisition, the director directly owned 12,000,000 shares in the company, valued at approximately $17,040,000. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders bought 9,892,852 shares of company stock valued at $28,429,183. 18.80% of the stock is owned by company insiders.

Institutional Trading of Mesoblast

Several institutional investors and hedge funds have recently modified their holdings of MESO. Goldman Sachs Group Inc. purchased a new stake in shares of Mesoblast in the 1st quarter valued at about $3,209,000. Creative Planning purchased a new stake in shares of Mesoblast in the 2nd quarter valued at about $141,000. Raymond James Financial Inc. purchased a new stake in shares of Mesoblast in the 2nd quarter valued at about $86,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Mesoblast by 5.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,047 shares of the company’s stock valued at $226,000 after acquiring an additional 716 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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 acquiring an additional 1,012 shares in the last quarter. 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.