Market cap of Stealth BioTherapeutics Corp [MITO] reaches 18.46M – now what?



Stealth BioTherapeutics Corp [NASDAQ: MITO] stock went on an upward path that rose over 19.93% on Monday, amounting to a one-week price increase of more than 21.70%. The company report on August 1, 2022 that Stealth BioTherapeutics Corp Enters Definitive Agreement for Going Private Transaction.

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Stealth BioTherapeutics Corp (Nasdaq: MITO), a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction, announced today that it has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with Stealth Parent Limited, an exempted company with limited liability incorporated under the law of the Cayman Islands (“Parent”), and Stealth Merger Sub Limited, an exempted company with limited liability incorporated under the law of the Cayman Islands and a wholly-owned subsidiary of Parent (“Merger Sub”), to be acquired by a consortium of investors led by Morningside Venture (I) Investments Ltd. for itself and on behalf of its affiliates (“Morningside”) and J. Wood Capital Advisors LLC (“J. Wood Capital”) (the “Consortium”) in an all-cash transaction. Pursuant to the terms of the Merger Agreement, and subject to the terms and conditions thereof, Merger Sub will merge with and into the Company with the Company being the surviving company and becoming a wholly-owned subsidiary of Parent (the “Merger”).

Pursuant to the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each ordinary share, par value US$0.0003 per share, of the Company (each, a “Share”) issued and outstanding immediately prior to the Effective Time will be cancelled and cease to exist, in exchange for the right to receive US$0.03125 in cash without interest (the “Per Share Merger Consideration”), and each outstanding American Depositary Share of the Company (each an “ADS,” representing 12 Shares, and collectively, the “ADSs”) will be cancelled in exchange for the right to receive US$0.375 in cash without interest (less any ADS cancellation fees not to exceed $0.05 per ADS) (the “Per ADS Merger Consideration”), except for (a) Shares (including Shares represented by ADSs) beneficially owned by Morningside and its affiliates, (b) Shares (including Shares represented by ADSs) owned by Parent, Merger Sub or the Company (as treasury shares, if any) or by any of their direct or indirect subsidiaries, and (c) Shares that are held by a holder who has validly exercised and not withdrawn or lost its right to dissent from the Merger pursuant to Section 238 of the Companies Act of the Cayman Islands, which will be cancelled and cease to exist and will entitle the former holder thereof to receive payment of the fair value of such dissenting shares in accordance with Section 238 of the Companies Act of the Cayman Islands.

Over the last 12 months, MITO stock dropped by -78.99%. The one-year Stealth BioTherapeutics Corp stock forecast points to a potential upside of 80.92. The average equity rating for MITO stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $18.46 million, with 63.64 million shares outstanding and 8.55 million shares in the current float. Compared to the average trading volume of 2.64M shares, MITO stock reached a trading volume of 7410882 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Stealth BioTherapeutics Corp [MITO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MITO shares is $1.52 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MITO stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Stealth BioTherapeutics Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 14, 2020. The new note on the price target was released on April 02, 2020, representing the official price target for Stealth BioTherapeutics Corp stock. Previously, the target price had yet another drop from $21 to $5, while H.C. Wainwright kept a Neutral rating on MITO stock.

MITO Stock Performance Analysis:

Stealth BioTherapeutics Corp [MITO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.70. With this latest performance, MITO shares gained by 14.85% in over the last four-week period, additionally sinking by -54.33% over the last 6 months – not to mention a drop of -78.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MITO stock in for the last two-week period is set at 64.26, with the RSI for the last a single of trading hit 74.99, and the three-weeks RSI is set at 56.66 for Stealth BioTherapeutics Corp [MITO]. The present Moving Average for the last 50 days of trading for this stock 0.2517, while it was recorded at 0.2494 for the last single week of trading, and 0.6118 for the last 200 days.

Insight into Stealth BioTherapeutics Corp Fundamentals:

Stealth BioTherapeutics Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 3.70.

Stealth BioTherapeutics Corp [MITO] Insider Position Details

Positions in Stealth BioTherapeutics Corp stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 7 institutional holders increased their position in Stealth BioTherapeutics Corp [NASDAQ:MITO] by around 62,070 shares. Additionally, 6 investors decreased positions by around 56,156 shares, while 4 investors held positions by with 796,121 shares. The mentioned changes placed institutional holdings at 914,347 shares, according to the latest SEC report filing. MITO stock had 2 new institutional investments in for a total of 8,939 shares, while 3 institutional investors sold positions of 35,341 shares during the same period.