Mesoblast (NASDAQ:MESO) Stock Passes Below 50 Day Moving Average – Here’s Why

Mesoblast Limited (NASDAQ:MESO)’s share price passed 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 changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a report on Wednesday, October 8th. Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Canaccord Genuity Group raised shares of Mesoblast to a “strong-buy” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Mesoblast Price Performance

The stock has a fifty day moving average of $16.32 and a 200 day moving average of $13.94. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -13.04 and a beta of 2.18. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.99 and a quick ratio of 1.77.

Institutional Trading of Mesoblast

A number of hedge funds have recently modified their holdings of MESO. Vanguard Personalized Indexing Management LLC boosted its position in Mesoblast by 5.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,047 shares of the company’s stock worth $226,000 after purchasing an additional 716 shares in the last quarter. Lazari Capital Management Inc. grew its position in shares of Mesoblast by 2.2% in the second quarter. Lazari Capital Management Inc. now owns 46,471 shares of the company’s stock valued at $506,000 after purchasing an additional 1,003 shares during the period. JPMorgan Chase & Co. boosted its holdings in Mesoblast by 55.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,831 shares of the company’s stock worth $46,000 after buying an additional 1,012 shares during the last quarter. Summit X LLC boosted its stake in shares of Mesoblast by 0.6% in the second quarter. Summit X LLC now owns 199,295 shares of the company’s stock worth $2,170,000 after acquiring an additional 1,132 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Mesoblast by 33.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 9,124 shares of the company’s stock worth $99,000 after purchasing an additional 2,302 shares during the last quarter. Hedge funds and other institutional investors own 1.43% of the company’s stock.

About Mesoblast

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.