Key Points
- CFO Hao‑Yuan Chuang sold 6,200 shares on April 9 at an average of $181.50 for a total of $1,125,300, reducing his stake by 6.2% to 93,800 shares; the sale was disclosed in an SEC filing.
- Belite Bio is trading around the mid‑$170s (opened $173.18), has a market cap of about $6.92 billion, and recently reported a Q4 EPS of ($0.38), beating estimates of ($0.56).
- Wall Street is generally bullish: six analysts rate the stock Buy, the consensus rating is “Moderate Buy” with a consensus price target of $202.33.
Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) Director Wan-Shan Chen sold 1,100 shares of Belite Bio stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $180.43, for a total value of $198,473.00. Following the sale, the director owned 9,096 shares in the company, valued at $1,641,191.28. This trade represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Belite Bio Trading Up 0.2%
Shares of Belite Bio stock opened at $173.18 on Tuesday. The business's fifty day simple moving average is $172.03 and its 200 day simple moving average is $143.54. The firm has a market capitalization of $6.92 billion, a P/E ratio of -75.30 and a beta of -1.22. Belite Bio, Inc. Sponsored ADR has a 12 month low of $53.60 and a 12 month high of $200.00.
Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.18. Analysts predict that Belite Bio, Inc. Sponsored ADR will post -1.17 EPS for the current fiscal year.
Institutional Trading of Belite Bio
A number of hedge funds and other institutional investors have recently made changes to their positions in BLTE. Caitong International Asset Management Co. Ltd raised its stake in shares of Belite Bio by 28,200.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company's stock valued at $45,000 after purchasing an additional 282 shares during the period. Bank of America Corp DE raised its stake in shares of Belite Bio by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company's stock valued at $87,000 after purchasing an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Belite Bio during the 4th quarter valued at $103,000. Persistent Asset Partners Ltd purchased a new position in Belite Bio during the fourth quarter worth about $108,000. Finally, GAMMA Investing LLC grew its position in Belite Bio by 11.1% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company's stock worth $130,000 after buying an additional 176 shares in the last quarter. 0.53% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on BLTE. Mizuho set a $223.00 target price on Belite Bio in a research note on Thursday, February 19th. Wall Street Zen upgraded Belite Bio from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Needham & Company LLC set a $217.00 target price on Belite Bio in a research note on Tuesday, March 3rd. Cantor Fitzgerald boosted their target price on Belite Bio from $200.00 to $266.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Finally, Benchmark restated a "buy" rating on shares of Belite Bio in a research note on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.33.
Read Our Latest Research Report on BLTE
About Belite Bio
(
Get Free Report)
Belite Bio, Inc (NASDAQ: BLTE) is a clinical-stage biotechnology company focused on discovering and developing small molecule therapeutics for metabolic and inflammatory diseases. Leveraging a proprietary drug-discovery platform, the company aims to address conditions such as nonalcoholic steatohepatitis (NASH) and obesity by targeting pathways involved in fibrosis, inflammation and metabolic regulation.
Belite Bio’s pipeline includes multiple candidates in preclinical and early clinical development stages.
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