Key Points
- Belite Bio insider Hendrik Peter Scholl sold 10,000 shares on June 16 at an average price of $140.57, totaling about $1.41 million. After the sale, he still directly owned 25,000 shares, reducing his stake by 28.57%.
- The stock rose 7.3% and opened at $148.34 on Thursday, while trading well above its 12-month low of $56.10 but below its 12-month high of $200.00. The company has a market cap of $5.95 billion.
- Analysts remain mostly constructive on Belite Bio, with six Buy ratings, one Hold, and one Sell, giving it a consensus “Moderate Buy” rating and a target price of $203.00. Recent earnings also beat expectations, with EPS of -$0.34 versus the -$0.60 consensus.
Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Hendrik Peter Scholl sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $140.57, for a total value of $1,405,700.00. Following the completion of the sale, the insider directly owned 25,000 shares in the company, valued at approximately $3,514,250. This represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Belite Bio Trading Up 7.3%
Belite Bio stock opened at $148.34 on Thursday. The business's fifty day simple moving average is $152.52 and its two-hundred day simple moving average is $159.87. Belite Bio, Inc. Sponsored ADR has a 12 month low of $56.10 and a 12 month high of $200.00. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of -58.63 and a beta of -1.24.
Belite Bio (NASDAQ:BLTE - Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.60) by $0.26. On average, equities research analysts predict that Belite Bio, Inc. Sponsored ADR will post -3.17 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Truist Financial set a $217.00 price objective on shares of Belite Bio in a research note on Friday, May 22nd. Cantor Fitzgerald boosted their price objective 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Belite Bio in a research report on Tuesday, April 7th. Benchmark reissued a "buy" rating on shares of Belite Bio in a report on Friday, May 22nd. Finally, Wall Street Zen raised Belite Bio from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $203.00.
Check Out Our Latest Analysis on Belite Bio
Hedge Funds Weigh In On Belite Bio
A number of hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Belite Bio during the 3rd quarter valued at $370,000. Western Standard LLC bought a new stake in Belite Bio during the fourth quarter valued at about $9,602,000. JPMorgan Chase & Co. raised its holdings 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 period. Eventide Asset Management LLC lifted its position in shares of Belite Bio by 96.1% in 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 in the last quarter. Finally, UBS Group AG lifted its position in shares of Belite Bio by 1,036.0% in the fourth quarter. UBS Group AG now owns 128,752 shares of the company's stock valued at $20,595,000 after acquiring an additional 117,418 shares in the last quarter. 0.53% of the stock is currently owned by institutional investors.
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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