Insider Selling: Belite Bio (NASDAQ:BLTE) Insider Sells $159,560.00 in Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of Belite Bio stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $159.56, for a total transaction of $159,560.00. Following the transaction, the insider directly owned 8,666 shares of the company’s stock, valued at approximately $1,382,746.96. This trade represents a 10.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Belite Bio Price Performance

Shares of NASDAQ BLTE opened at $154.50 on Thursday. Belite Bio, Inc. Sponsored ADR has a 1 year low of $56.10 and a 1 year high of $200.00. The stock has a market cap of $6.18 billion, a P/E ratio of -67.17 and a beta of -1.22. The firm has a 50-day moving average of $168.40 and a 200 day moving average of $150.46.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.18. Research analysts expect that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in Belite Bio by 28,200.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock worth $45,000 after buying an additional 282 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Belite Bio by 28.1% during the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after purchasing an additional 257 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Belite Bio during the fourth quarter valued at approximately $103,000. Persistent Asset Partners Ltd purchased a new position in shares of Belite Bio during the fourth quarter valued at approximately $108,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Belite Bio during the second quarter valued at approximately $147,000. 0.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BLTE shares. Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a research report on Tuesday, March 3rd. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a report on Tuesday, March 3rd. Morgan Stanley lifted their target price on shares of Belite Bio from $191.00 to $201.00 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 report on Tuesday, April 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $200.00 target price on shares of Belite Bio in a report on Wednesday, April 22nd. Six 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.33.

About Belite Bio

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.