Key Points
- Insider sale: Nathan Mata sold 1,000 shares of Belite Bio on April 27 at an average price of $162.64 for $162,640, reducing his stake by 11.54% to 7,666 shares (valued at $1,246,798.24); the trade was disclosed in an SEC filing.
- Market and analyst view: BLTE has a $6.34 billion market cap, a 52-week range of $56.10–$200.00, and a consensus rating of Moderate Buy with an average target of $202.33 (six Buys, one Hold, one Sell).
- Company profile: Belite Bio is a clinical-stage biotech developing small-molecule therapies for metabolic and inflammatory diseases, including NASH and obesity, with multiple candidates in preclinical and early clinical stages.
Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of Belite Bio stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $162.64, for a total transaction of $162,640.00. Following the transaction, the insider directly owned 7,666 shares in the company, valued at $1,246,798.24. This trade represents a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Belite Bio Stock Performance
BLTE stock opened at $158.73 on Wednesday. The company has a market capitalization of $6.34 billion, a PE ratio of -69.01 and a beta of -1.22. Belite Bio, Inc. Sponsored ADR has a one year low of $56.10 and a one year high of $200.00. The company's 50 day moving average price is $168.79 and its two-hundred day moving average price is $150.43.
Belite Bio (NASDAQ:BLTE - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.18. On average, research analysts predict that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have commented on BLTE shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Belite Bio in a research note on Tuesday, April 7th. Benchmark reissued a "buy" rating on shares of Belite Bio in a research note on Tuesday, March 3rd. HC Wainwright reissued a "buy" rating and set a $200.00 price target on shares of Belite Bio in a research note on Wednesday, April 22nd. Morgan Stanley raised 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. Finally, 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. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $202.33.
Read Our Latest Analysis on Belite Bio
Institutional Trading of Belite Bio
Large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Belite Bio by 28,200.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company's stock valued at $45,000 after acquiring an additional 282 shares in the last quarter. Bank of America Corp DE boosted its holdings in Belite Bio by 28.1% in the third quarter. Bank of America Corp DE now owns 1,171 shares of the company's stock valued at $87,000 after acquiring an additional 257 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Belite Bio in the fourth quarter valued at $103,000. Persistent Asset Partners Ltd bought a new stake in Belite Bio in the fourth quarter valued at $108,000. Finally, EverSource Wealth Advisors LLC purchased a new position in Belite Bio during the second quarter valued at $147,000. 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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