Stealth BioTherapeutics Corp’s (NASDAQ:MITO) Lock-Up Period To Expire on August 14th
Stealth BioTherapeutics’ (NASDAQ:MITO) lock-up period will expire on Wednesday, August 14th. Stealth BioTherapeutics had issued 6,500,000 shares in its initial public offering on February 15th. The total size of the offering was $78,000,000 based on an initial share price of $12.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Several brokerages have issued reports on MITO. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Stealth BioTherapeutics in a research note on Friday, July 12th. Zacks Investment Research cut Stealth BioTherapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $24.83.
Shares of Stealth BioTherapeutics stock opened at $12.40 on Wednesday. The business’s 50 day moving average is $12.26. The firm has a market cap of $431.92 million and a PE ratio of -8.79. Stealth BioTherapeutics has a twelve month low of $10.70 and a twelve month high of $20.99.
A hedge fund recently bought a new stake in Stealth BioTherapeutics stock. Dean Capital Investments Management LLC acquired a new stake in shares of Stealth BioTherapeutics Corp (NASDAQ:MITO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,420 shares of the company’s stock, valued at approximately $646,000. Dean Capital Investments Management LLC owned approximately 0.18% of Stealth BioTherapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 0.87% of the company’s stock.
About Stealth BioTherapeutics
Stealth BioTherapeutics Corp, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of therapies for diseases involving mitochondrial dysfunction. Its lead product candidate, Elamipretide, has the potential to treat rare genetic and common age-related mitochondrial diseases.
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