Key Points
- Belite Bio insider Nathan Mata sold 666 shares on May 7 at an average price of $153.21, generating about $102,038 and reducing his holdings by 60.22% to 440 shares.
- The stock recently traded around $154.88, near its 200-day moving average of $152.99, with a market cap of about $6.19 billion and a 52-week range of $56.10 to $200.00.
- Analysts remain broadly upbeat on Belite Bio, with six Buy ratings, one Hold, and one Sell; the average price target is $202.33, above the current share price.
Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 666 shares of Belite Bio stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $153.21, for a total transaction of $102,037.86. Following the transaction, the insider directly owned 440 shares in the company, valued at $67,412.40. This represents a 60.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Belite Bio Price Performance
Shares of NASDAQ BLTE opened at $154.88 on Friday. The firm has a fifty day moving average price of $166.19 and a 200-day moving average price of $152.99. The stock has a market cap of $6.19 billion, a PE ratio of -67.34 and a beta of -1.19. Belite Bio, Inc. Sponsored ADR has a 1 year low of $56.10 and a 1 year high of $200.00.
Belite Bio (NASDAQ:BLTE - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, beating 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.
Institutional Trading of Belite Bio
Hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. bought a new position in Belite Bio during the third quarter valued at approximately $370,000. High Net Worth Advisory Group LLC bought a new position in shares of Belite Bio in the 3rd quarter valued at about $259,000. Western Standard LLC purchased a new position in Belite Bio in the fourth quarter worth about $9,602,000. JPMorgan Chase & Co. grew its position in Belite Bio by 45.2% in the third quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company's stock worth $726,000 after acquiring an additional 3,052 shares in the last quarter. Finally, Eventide Asset Management LLC increased its stake in Belite Bio by 96.1% during the fourth quarter. Eventide Asset Management LLC now owns 383,091 shares of the company's stock worth $61,279,000 after acquiring an additional 187,779 shares during the last quarter. Hedge funds and other institutional investors own 0.53% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on BLTE. Bank of America assumed coverage on Belite Bio in a research note on Monday, January 26th. They issued a "buy" rating and a $195.00 price objective for the company. Benchmark reissued a "buy" rating on shares of Belite Bio in a research note on Tuesday, March 3rd. Mizuho set a $223.00 price target on Belite Bio in a report on Thursday, February 19th. Needham & Company LLC set a $217.00 price target on Belite Bio in a research note on Tuesday, March 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $200.00 price objective on shares of Belite Bio in a report on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $202.33.
Read Our Latest Stock Analysis on Belite Bio
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.
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