Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $155.82, for a total transaction of $155,820.00. Following the completion of the transaction, the insider directly owned 5,666 shares of the company's stock, valued at $882,876.12. This represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Belite Bio Stock Up 3.0%
Shares of BLTE stock opened at $159.16 on Friday. Belite Bio, Inc. Sponsored ADR has a 52 week low of $56.10 and a 52 week high of $200.00. The stock has a market capitalization of $6.36 billion, a PE ratio of -69.20 and a beta of -1.22. The firm has a 50 day moving average of $167.98 and a two-hundred day moving average of $150.52.
Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.18. Analysts expect that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current fiscal year.
Institutional Investors Weigh In On Belite Bio
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Darwin Global Management Ltd. acquired a new stake in shares of Belite Bio in the 4th quarter valued at $486,915,000. RA Capital Management L.P. acquired a new stake in shares of Belite Bio in the 3rd quarter valued at $64,750,000. RTW Investments LP raised its holdings in shares of Belite Bio by 128.9% in the 4th quarter. RTW Investments LP now owns 715,332 shares of the company's stock valued at $114,425,000 after purchasing an additional 402,832 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Belite Bio by 2,594.6% in the 4th quarter. Millennium Management LLC now owns 558,882 shares of the company's stock valued at $89,399,000 after purchasing an additional 538,141 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in shares of Belite Bio by 732.0% in the 4th quarter. Perceptive Advisors LLC now owns 414,239 shares of the company's stock valued at $66,262,000 after purchasing an additional 364,451 shares in the last quarter. 0.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on BLTE shares. Benchmark reissued a "buy" rating on shares of Belite Bio in a research report on Tuesday, March 3rd. Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a research report on Tuesday, March 3rd. Bank of America started coverage on shares of Belite Bio in a research report on Monday, January 26th. They issued a "buy" rating and a $195.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $200.00 price target on shares of Belite Bio in a research report on Wednesday, April 22nd. Finally, Cantor Fitzgerald raised their price target on shares of Belite Bio from $200.00 to $266.00 and gave the company an "overweight" rating in a research report on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $202.33.
View Our Latest Research Report on BLTE
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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