Mesoblast (NASDAQ:MESO) Shares Pass Below 50-Day Moving Average – Time to Sell?

Shares of Mesoblast Limited (NASDAQ:MESO) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.04 and traded as low as $13.70. Mesoblast shares last traded at $13.95, with a volume of 260,170 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong 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, the stock has an average rating of “Hold”.

Mesoblast Stock Performance

The stock has a 50 day simple moving average of $15.04 and a 200 day simple moving average of $16.38. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -25.83 and a beta of 2.05. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.10.

Insider Activity at Mesoblast

In other Mesoblast news, Director Gregory George purchased 4,000,000 shares of the business’s stock in a transaction that occurred on Saturday, April 4th. The shares were acquired at an average price of $1.42 per share, for a total transaction of $5,680,000.00. Following the completion of the purchase, the director owned 12,000,000 shares in the company, valued at $17,040,000. The trade was a 50.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 9,892,852 shares of company stock worth $28,429,183 in the last 90 days. Insiders own 18.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MESO. Legal & General Group Plc acquired a new position in shares of Mesoblast in the third quarter worth about $10,501,000. Goldman Sachs Group Inc. acquired a new position in shares of Mesoblast in the first quarter worth about $3,209,000. Bank of America Corp DE lifted its stake in shares of Mesoblast by 791.7% in the third quarter. Bank of America Corp DE now owns 111,459 shares of the company’s stock worth $1,796,000 after acquiring an additional 98,960 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Mesoblast in the fourth quarter worth about $839,000. Finally, Brooklyn Investment Group acquired a new position in shares of Mesoblast in the third quarter worth about $655,000. Institutional investors and hedge funds own 1.43% of the company’s stock.

About Mesoblast

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.