Stealth BioTherapeutics (NASDAQ:MITO) Price Target Cut to $1.50 by Analysts at HC Wainwright

Stealth BioTherapeutics (NASDAQ:MITOGet Rating) had its price objective reduced by equities researchers at HC Wainwright from $4.00 to $1.50 in a report released on Monday, The Fly reports.

MITO stock opened at $0.24 on Monday. The firm has a market capitalization of $14.39 million, a P/E ratio of -0.46 and a beta of 2.07. The company’s 50 day simple moving average is $0.48 and its 200-day simple moving average is $0.67. Stealth BioTherapeutics has a 52-week low of $0.17 and a 52-week high of $2.10.

A hedge fund recently bought a new stake in Stealth BioTherapeutics stock. Millennium Management LLC bought a new stake in Stealth BioTherapeutics Corp (NASDAQ:MITOGet Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,903 shares of the company’s stock, valued at approximately $49,000. Millennium Management LLC owned about 0.06% of Stealth BioTherapeutics at the end of the most recent quarter. 1.52% of the stock is owned by institutional investors.

About Stealth BioTherapeutics (Get Rating)

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 is Elamipretide that is in phase 3 clinical trial to treat barth syndrome, phase 2/3 clinical trial for the treatment of duchenne cardiomyopathy, phase 2a clinical trial to treat friedreich's ataxia, phase 2 clinical trial for the treatment of dry age-related macular degeneration, phase 2 clinical trial to treat leber's hereditary optic neuropathy, and phase 3 clinical trial for the treatment of replisome myopathies.

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