Mesoblast (NASDAQ:MESO) Share Price Passes Below 50 Day Moving Average – What’s Next?

Mesoblast Limited (NASDAQ:MESO)’s stock price 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.

Wall Street Analysts Forecast Growth

MESO has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a research report on Wednesday, October 8th. Canaccord Genuity Group raised Mesoblast to a “strong-buy” rating in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Two 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’s stock. According to data from MarketBeat, Mesoblast presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Mesoblast Trading Down 2.1%

The company has a market cap of $1.87 billion, a P/E 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. The stock’s 50-day moving average is $16.32 and its two-hundred day moving average is $13.94.

Hedge Funds Weigh In On Mesoblast

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC boosted its holdings 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 buying an additional 716 shares during the period. Lazari Capital Management Inc. increased its position in shares of Mesoblast by 2.2% during the 2nd 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 last quarter. JPMorgan Chase & Co. increased its position in Mesoblast by 55.6% during the third 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 during the last quarter. Summit X LLC boosted its stake in shares of Mesoblast by 0.6% during the 2nd quarter. Summit X LLC now owns 199,295 shares of the company’s stock worth $2,170,000 after purchasing an additional 1,132 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 period. Hedge funds and other institutional investors 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.