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 dated Friday, April 24th. The shares were sold at an average price of $159.56, for a total transaction of $159,560.00. Following the completion of the transaction, the insider owned 8,666 shares in the company, valued at approximately $1,382,746.96. This trade represents a 10.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Belite Bio Stock Up 1.1%
Shares of NASDAQ:BLTE opened at $163.06 on Tuesday. The company's 50 day moving average price is $169.13 and its two-hundred day moving average price is $149.87. Belite Bio, Inc. Sponsored ADR has a 12-month low of $56.10 and a 12-month high of $200.00. The firm has a market cap of $6.52 billion, a PE ratio of -70.90 and a beta of -1.22.
Belite Bio (NASDAQ:BLTE - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $0.18. On average, research analysts expect that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have issued reports on BLTE. Morgan Stanley increased 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 began 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 on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Belite Bio in a research report on Tuesday, April 7th. Needham & Company LLC set a $217.00 target price on shares of Belite Bio in a research report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded shares of Belite Bio from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Belite Bio presently has a consensus rating of "Moderate Buy" and an average price target of $202.33.
Read Our Latest Analysis on BLTE
Institutional Trading of Belite Bio
Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position 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 worth $45,000 after acquiring an additional 282 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Belite Bio during the 4th quarter worth approximately $103,000. Persistent Asset Partners Ltd acquired a new stake in shares of Belite Bio during the 4th quarter worth approximately $108,000. Bank of America Corp DE boosted its position 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 worth $87,000 after acquiring an additional 257 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new stake in shares of Belite Bio during the 4th quarter worth approximately $211,000. Institutional investors and hedge funds 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.
Further Reading
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