Key Points
- Insider sale: Director Nathan Mata sold 1,000 shares on May 1 at $155.78 for $155,780, reducing his stake to 3,666 shares — a 21.43% drop in ownership disclosed to the SEC.
- Analyst sentiment: The stock has a consensus "Moderate Buy" with a consensus price target of $202.33 (six Buys, one Hold, one Sell), and some firms (e.g., Cantor Fitzgerald) have targets as high as $266.
- Company and stock performance: BLTE trades near $154.51 with a one-year range of $56.10–$200.00 and a $6.18B market cap; the company reported a quarterly EPS of ($0.38) beating estimates and analysts forecast ~($2.20) for the fiscal year.
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 Friday, May 1st. The shares were sold at an average price of $155.78, for a total transaction of $155,780.00. Following the transaction, the insider owned 3,666 shares of the company's stock, valued at approximately $571,089.48. This represents a 21.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Belite Bio Price Performance
Shares of BLTE opened at $154.51 on Tuesday. Belite Bio, Inc. Sponsored ADR has a one year low of $56.10 and a one year high of $200.00. The company has a market cap of $6.18 billion, a P/E ratio of -67.18 and a beta of -1.19. The firm has a 50 day simple moving average of $167.98 and a two-hundred day simple moving average of $151.52.
Belite Bio (NASDAQ:BLTE - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.18. On average, analysts expect that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
BLTE has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $200.00 price target on shares of Belite Bio in a report on Wednesday, April 22nd. Bank of America initiated coverage on shares of Belite Bio in a report on Monday, January 26th. They set a "buy" rating and a $195.00 price target for the company. Benchmark reiterated a "buy" rating on shares of Belite Bio in a report on Tuesday, March 3rd. Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a report on Tuesday, March 3rd. Finally, Cantor Fitzgerald upped their price target on shares of Belite Bio from $200.00 to $266.00 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 issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.33.
Read Our Latest Stock Report on BLTE
Institutional Trading of Belite Bio
Institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in Belite Bio during the third quarter valued at $370,000. High Net Worth Advisory Group LLC bought a new stake in Belite Bio during the third quarter valued at $259,000. JPMorgan Chase & Co. boosted its position in Belite Bio by 45.2% during the third quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company's stock valued at $726,000 after acquiring an additional 3,052 shares during the last quarter. Yeomans Consulting Group Inc. bought a new stake in Belite Bio during the fourth quarter valued at $384,000. Finally, Eventide Asset Management LLC boosted its position in Belite Bio by 96.1% during the fourth quarter. Eventide Asset Management LLC now owns 383,091 shares of the company's stock valued at $61,279,000 after acquiring an additional 187,779 shares during the last quarter. 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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
