Key Points
- Nathan Mata, an insider at Belite Bio, sold 1,000 shares on April 15 at an average price of $168.30 for a total of $168,300, trimming his holding by 6% to 15,666 shares (about $2.64M).
- Belite reported Q (non-GAAP) EPS of ($0.38) versus estimates of ($0.56), and several brokers raised targets (e.g., Cantor Fitzgerald to $266), leaving a consensus rating of "Moderate Buy" and a $202.33 target price.
- The stock opened at $158.05, trades within a 52-week range of $53.60–$200.00 with 50-/200-day moving averages of $171.04 and $144.52, a market cap of $6.32B, a negative P/E of -68.72, and low institutional ownership (~0.53%).
Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $168.30, for a total transaction of $168,300.00. Following the transaction, the insider owned 15,666 shares of the company's stock, valued at approximately $2,636,587.80. This represents a 6.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Belite Bio Stock Performance
Shares of NASDAQ:BLTE opened at $158.05 on Friday. The firm has a fifty day moving average price of $171.04 and a 200 day moving average price of $144.52. Belite Bio, Inc. Sponsored ADR has a fifty-two week low of $53.60 and a fifty-two week high of $200.00. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of -68.72 and a beta of -1.22.
Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.18. As a group, research analysts predict that Belite Bio, Inc. Sponsored ADR will post -1.17 earnings per share for the current year.
Institutional Investors Weigh In On Belite Bio
A number of hedge funds have recently bought and sold shares of BLTE. EverSource Wealth Advisors LLC purchased a new stake in Belite Bio during the second quarter valued at $147,000. Marshall Wace LLP purchased a new stake in Belite Bio during the second quarter valued at $547,000. BNP Paribas Financial Markets purchased a new stake in Belite Bio during the second quarter valued at $190,000. GAMMA Investing LLC raised its stake in shares of Belite Bio by 11.1% in the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company's stock valued at $130,000 after acquiring an additional 176 shares during the period. Finally, High Net Worth Advisory Group LLC purchased a new stake in shares of Belite Bio in the third quarter valued at $259,000. Hedge funds and other institutional investors own 0.53% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on BLTE. Cantor Fitzgerald upped their target price on shares of Belite Bio from $200.00 to $266.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Morgan Stanley upped their target price on shares of Belite Bio from $191.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Bank of America initiated coverage on shares of Belite Bio in a research report on Monday, January 26th. They set a "buy" rating and a $195.00 target price for the company. Benchmark reaffirmed a "buy" rating on shares of Belite Bio in a research note on Tuesday, March 3rd. Finally, Mizuho set a $223.00 price target on shares of Belite Bio in a research note on Thursday, February 19th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Belite Bio presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.33.
View Our Latest Stock Analysis on Belite Bio
Belite Bio Company Profile
(
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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