Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) CFO Hao-Yuan Chuang sold 17,962 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $196.42, for a total transaction of $3,528,096.04. Following the sale, the chief financial officer directly owned 26,038 shares of the company's stock, valued at approximately $5,114,383.96. This trade represents a 40.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Hao-Yuan Chuang also recently made the following trade(s):
- On Friday, September 4th, Hao-Yuan Chuang sold 49,433 shares of Belite Bio stock. The shares were sold at an average price of $187.64, for a total transaction of $9,275,608.12.
- On Wednesday, August 12th, Hao-Yuan Chuang sold 367 shares of Belite Bio stock. The shares were sold at an average price of $180.35, for a total transaction of $66,188.45.
Belite Bio Stock Down 5.0%
BLTE opened at $183.16 on Thursday. Belite Bio, Inc. Sponsored ADR has a 52-week low of $64.80 and a 52-week high of $200.00. The company has a 50 day moving average of $160.55 and a two-hundred day moving average of $158.72. The company has a market cap of $7.38 billion, a P/E ratio of -67.09 and a beta of -1.23.
Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported ($0.54) EPS for the quarter. Research analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.08 earnings per share for the current year.
Institutional Investors Weigh In On Belite Bio
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Darwin Global Management Ltd. acquired a new position in Belite Bio in the 4th quarter worth $486,915,000. RA Capital Management L.P. purchased a new position in Belite Bio in the 3rd quarter valued at about $64,750,000. RTW Investments LP grew its stake in shares of Belite Bio by 128.9% during the fourth quarter. RTW Investments LP now owns 715,332 shares of the company's stock valued at $114,425,000 after acquiring an additional 402,832 shares in the last quarter. Millennium Management LLC grew its stake in shares of Belite Bio by 2,594.6% during the fourth quarter. Millennium Management LLC now owns 558,882 shares of the company's stock valued at $89,399,000 after acquiring an additional 538,141 shares in the last quarter. Finally, Perceptive Advisors LLC increased its position in shares of Belite Bio by 732.0% during the fourth quarter. Perceptive Advisors LLC now owns 414,239 shares of the company's stock worth $66,262,000 after acquiring an additional 364,451 shares during the last quarter. Hedge funds and other institutional investors own 0.53% of the company's stock.
Analysts Set New Price Targets
BLTE has been the topic of several research reports. Mizuho raised their price objective on Belite Bio from $220.00 to $234.00 and gave the company an "outperform" rating in a research report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating on shares of Belite Bio in a research report on Wednesday. Cantor Fitzgerald increased their target price on Belite Bio from $266.00 to $270.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Zacks Research downgraded Belite Bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 18th. Finally, UBS Group reissued a "buy" rating on shares of Belite Bio in a research report on Thursday, September 3rd. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $218.73.
View Our Latest Analysis on Belite Bio
More Belite Bio News
Here are the key news stories impacting Belite Bio this week:
- Positive Sentiment: Belite Bio submitted a New Drug Application in Japan for tinlarebant, its once-daily oral treatment candidate for Stargardt disease type 1. The application was filed under Japan’s Sakigake designation system, which is intended to support expedited development and review of innovative therapies. Stargardt disease affects an estimated 9,500 people in Japan and currently has no approved treatments, strengthening the potential commercial opportunity. Belite Bio Japan NDA announcement
- Positive Sentiment: A bullish Seeking Alpha analysis argues that Belite Bio remains on track for a potential blockbuster launch in 2027, highlighting investor optimism around tinlarebant’s development and future revenue potential. Belite Bio potential 2027 launch analysis
- Positive Sentiment: Technical momentum has improved after BLTE’s 50-day moving average crossed above its 200-day moving average, a bullish “golden cross” that may attract momentum-focused investors. Belite Bio golden cross analysis
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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