Key Points
- Nathan Mata sold 1,000 shares of Belite Bio on April 20 at an average price of $163.59 for a $163,590 transaction, reducing his stake by 7.32% to 12,666 shares (valued at about $2.07M).
- BLTE opened at $165.23, trading in a one‑year range of $54.62–$200.00 with a market capitalization of $6.60 billion, a negative P/E of -71.84, and 50‑/200‑day SMAs of $170.01 and $147.45 respectively.
- The company beat quarterly EPS estimates (-$0.38 vs. -$0.56) and carries a consensus analyst rating of "Moderate Buy" with an average price target of $202.33.
Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the business's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $163.59, for a total transaction of $163,590.00. Following the sale, the insider owned 12,666 shares of the company's stock, valued at $2,072,030.94. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Belite Bio Price Performance
Shares of NASDAQ:BLTE opened at $165.23 on Wednesday. Belite Bio, Inc. Sponsored ADR has a 1-year low of $54.62 and a 1-year high of $200.00. The company has a market capitalization of $6.60 billion, a P/E ratio of -71.84 and a beta of -1.22. The firm's 50 day simple moving average is $170.01 and its two-hundred day simple moving average is $147.45.
Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its quarterly 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. On average, sell-side analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on BLTE shares. Bank of America started coverage on shares of Belite Bio in a report on Monday, January 26th. They set a "buy" rating and a $195.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $200.00 price target on shares of Belite Bio in a report on Monday, April 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Belite Bio in a report on Tuesday, April 7th. Benchmark reissued a "buy" rating on shares of Belite Bio in a report on Tuesday, March 3rd. Finally, Morgan Stanley boosted their target price on shares of Belite Bio from $191.00 to $201.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.33.
Check Out Our Latest Stock Analysis on BLTE
Institutional Investors Weigh In On Belite Bio
A number of hedge funds have recently bought and sold shares of BLTE. Caitong International Asset Management Co. Ltd raised its stake in Belite Bio by 28,200.0% during the fourth 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 in the last quarter. Bank of America Corp DE raised its stake in Belite Bio by 28.1% during the third 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Belite Bio during the fourth quarter valued at $103,000. Persistent Asset Partners Ltd purchased a new stake in Belite Bio during the fourth quarter valued at $108,000. Finally, GAMMA Investing LLC raised its stake in Belite Bio by 11.1% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company's stock valued at $130,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 0.53% of the company's stock.
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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