Nathan Mata Sells 1,000 Shares of Belite Bio (NASDAQ:BLTE) Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $155.78, for a total transaction of $155,780.00. Following the sale, the insider owned 3,666 shares in the company, valued at approximately $571,089.48. The trade was a 21.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Belite Bio Trading Down 0.2%

NASDAQ BLTE traded down $0.34 on Monday, reaching $154.51. 96,847 shares of the stock were exchanged, compared to its average volume of 187,596. Belite Bio, Inc. Sponsored ADR has a one year low of $56.10 and a one year high of $200.00. The firm has a market capitalization of $6.17 billion, a PE ratio of -67.18 and a beta of -1.19. The company’s 50-day simple moving average is $167.98 and its two-hundred day simple moving average is $151.52.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Bank of America assumed coverage on shares of Belite Bio in a research report on Monday, January 26th. They set a “buy” rating and a $195.00 price objective on the stock. Benchmark reiterated a “buy” rating on shares of Belite Bio in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $200.00 target price on shares of Belite Bio in a report on Wednesday, April 22nd. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.33.

Institutional Trading of Belite Bio

A number of hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its stake in Belite Bio by 54,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 549 shares of the company’s stock worth $88,000 after acquiring an additional 548 shares during the period. Seven Fleet Capital Management LP purchased a new stake in Belite Bio in the fourth quarter worth about $1,465,000. ADAR1 Capital Management LLC bought a new position in Belite Bio in the fourth quarter worth about $6,373,000. Wellington Management Group LLP bought a new position in Belite Bio in the fourth quarter worth about $991,000. Finally, Squadron Capital Management LLC bought a new position in Belite Bio in the fourth quarter worth about $4,159,000. 0.53% of the stock is owned by hedge funds and other institutional investors.

Belite Bio Company Profile

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.