Key Points
- Insider sale: Belite Bio insider Hendrik Peter Scholl sold 10,000 shares on June 18 at an average price of $145.24, totaling about $1.45 million. After the sale, he still held 15,000 shares, a 40% reduction in his stake.
- Recent trading activity: Scholl also sold 10,000 shares on June 16 for about $1.41 million, indicating continued insider selling over multiple transactions.
- Company and analyst backdrop: Belite Bio recently beat quarterly EPS expectations, and analysts currently rate the stock a Moderate Buy with an average price target of $203.00. The shares were trading around $147.07, below the recent analyst targets.
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 on Thursday, June 18th. The shares were sold at an average price of $145.24, for a total transaction of $1,452,400.00. Following the sale, the insider directly owned 15,000 shares of the company's stock, valued at $2,178,600. This represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Hendrik Peter Scholl also recently made the following trade(s):
- On Tuesday, June 16th, Hendrik Peter Scholl sold 10,000 shares of Belite Bio stock. The stock was sold at an average price of $140.57, for a total value of $1,405,700.00.
Belite Bio Trading Up 0.7%
Shares of BLTE opened at $147.07 on Tuesday. Belite Bio, Inc. Sponsored ADR has a twelve month low of $56.10 and a twelve month high of $200.00. The firm has a market capitalization of $5.89 billion, a P/E ratio of -58.13 and a beta of -1.24. The stock's fifty day simple moving average is $150.71 and its 200 day simple moving average is $159.86.
Belite Bio (NASDAQ:BLTE - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.60) by $0.26. Sell-side analysts predict that Belite Bio, Inc. Sponsored ADR will post -3.17 earnings per share for the current year.
Institutional Investors Weigh In On Belite Bio
Several institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Belite Bio in the third quarter valued at about $370,000. Western Standard LLC acquired a new position in Belite Bio during the 4th quarter worth approximately $9,602,000. JPMorgan Chase & Co. boosted its holdings in Belite Bio by 45.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company's stock worth $726,000 after acquiring an additional 3,052 shares during the period. Eventide Asset Management LLC boosted its holdings in Belite Bio by 96.1% in the 4th 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 period. Finally, Artia Global Partners LP acquired a new stake in Belite Bio in the fourth quarter valued at approximately $2,878,000. Hedge funds and other institutional investors own 0.53% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on BLTE. Wall Street Zen upgraded Belite Bio from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Mizuho cut their price target on shares of Belite Bio from $223.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, May 26th. HC Wainwright reaffirmed a "buy" rating and set a $200.00 price target on shares of Belite Bio in a research report on Monday, June 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Belite Bio in a research note on Tuesday, April 7th. Finally, Truist Financial set a $217.00 price objective on shares of Belite Bio in a research report on Friday, May 22nd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Belite Bio currently has a consensus rating of "Moderate Buy" and an average target price of $203.00.
View Our Latest Report on BLTE
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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