Mesoblast (NASDAQ:MESO) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?
by Teresa Graham · The Cerbat GemShares of Mesoblast Limited (NASDAQ:MESO – Get Free Report) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $15.87 and traded as high as $17.29. Mesoblast shares last traded at $17.14, with a volume of 86,062 shares traded.
Analyst Ratings Changes
Several brokerages have recently issued reports on MESO. Piper Sandler reaffirmed an “overweight” rating and issued a $39.00 target price (up from $35.00) on shares of Mesoblast in a research note on Thursday, August 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mesoblast in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.00.
Check Out Our Latest Analysis on Mesoblast
Mesoblast Trading Up 1.1%
The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -61.86 and a beta of 2.12. The business has a 50-day simple moving average of $15.95 and a two-hundred day simple moving average of $15.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.09 and a current ratio of 2.43.
Mesoblast (NASDAQ:MESO – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported ($0.07) EPS for the quarter. The firm had revenue of $34.45 million for the quarter. As a group, research analysts forecast that Mesoblast Limited will post -0.05 EPS for the current year.
Hedge Funds Weigh In On Mesoblast
Several hedge funds have recently modified their holdings of MESO. Goldman Sachs Group Inc. bought a new stake in Mesoblast during the first quarter worth about $3,209,000. Creative Planning acquired a new position in shares of Mesoblast during the 2nd quarter worth approximately $141,000. Raymond James Financial Inc. bought a new stake in shares of Mesoblast during the 2nd quarter worth approximately $86,000. JPMorgan Chase & Co. boosted 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 buying an additional 1,012 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Mesoblast in the 3rd quarter valued at approximately $10,501,000. Institutional investors 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.