Key Points
- Insider sale: Belite Bio insider Nathan Mata sold 1,000 shares on April 17 at an average price of $161.63 for $161,630, leaving him with 13,666 shares (a 6.82% reduction in his stake, valued at about $2.21M).
- Analyst sentiment and stock context: Several analysts have raised targets (as high as $266) and the consensus price target is $202.33 with a "Moderate Buy" rating; shares trade around $165 with a $6.61B market cap and a 1‑year range of $53.60–$200.00.
Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $161.63, for a total value of $161,630.00. Following the sale, the insider directly owned 13,666 shares of the company's stock, valued at approximately $2,208,835.58. This represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Belite Bio Price Performance
Shares of NASDAQ BLTE opened at $165.43 on Tuesday. The company has a market cap of $6.61 billion, a PE ratio of -71.93 and a beta of -1.22. The stock has a fifty day moving average price of $170.24 and a 200 day moving average price of $146.82. Belite Bio, Inc. Sponsored ADR has a 1-year low of $53.60 and a 1-year high of $200.00.
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, beating the consensus estimate of ($0.56) by $0.18. Analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Bank of America started coverage on shares of Belite Bio in a report on Monday, January 26th. They issued a "buy" rating and a $195.00 target price on the stock. Morgan Stanley lifted their price target on Belite Bio from $191.00 to $201.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Cantor Fitzgerald lifted their price target on Belite Bio from $200.00 to $266.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Belite Bio in a research note on Tuesday, April 7th. Finally, HC Wainwright restated a "buy" rating and issued a $200.00 price target on shares of Belite Bio in a research note on Monday, April 13th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Belite Bio presently has an average rating of "Moderate Buy" and a consensus price target of $202.33.
Read Our Latest Stock Report on Belite Bio
Institutional Trading of Belite Bio
Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its position in Belite Bio by 54,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 549 shares of the company's stock worth $88,000 after purchasing an additional 548 shares in the last quarter. Seven Fleet Capital Management LP purchased a new stake in Belite Bio during the fourth quarter worth $1,465,000. ADAR1 Capital Management LLC purchased a new stake in Belite Bio during the fourth quarter worth $6,373,000. Wellington Management Group LLP purchased a new stake in Belite Bio during the fourth quarter worth $991,000. Finally, Squadron Capital Management LLC purchased a new stake in Belite Bio during the fourth quarter worth $4,159,000. Hedge funds and other institutional investors own 0.53% of the company's stock.
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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