Belite Bio (NASDAQ:BLTE) CEO Yu-Hsin Lin Sells 26,000 Shares

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) CEO Yu-Hsin Lin sold 26,000 shares of Belite Bio stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $196.56, for a total value of $5,110,560.00. Following the completion of the sale, the chief executive officer directly owned 70,134 shares in the company, valued at $13,785,539.04. This represents a 27.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Yu-Hsin Lin also recently made the following trade(s):

• On Friday, September 4th, Yu-Hsin Lin sold 74,435 shares of Belite Bio stock. The shares were sold at an average price of $187.71, for a total transaction of $13,972,193.85.
• On Wednesday, August 12th, Yu-Hsin Lin sold 365 shares of Belite Bio stock. The shares were sold at an average price of $180.35, for a total transaction of $65,827.75.

Belite Bio Price Performance

BLTE stock opened at $183.16 on Thursday. The business has a 50 day simple moving average of $160.55 and a 200-day simple moving average of $158.72. The firm has a market capitalization of $7.38 billion, a PE ratio of -67.09 and a beta of -1.23. Belite Bio, Inc. Sponsored ADR has a 1 year low of $64.80 and a 1 year high of $200.00.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.54) EPS for the quarter. On average, equities research analysts expect that Belite Bio, Inc. Sponsored ADR will post -3.08 EPS for the current year.

Institutional Trading of Belite Bio

A number of large investors have recently made changes to their positions in BLTE. Royal Bank of Canada boosted its holdings in shares of Belite Bio by 7.9% in the first quarter. Royal Bank of Canada now owns 2,257 shares of the company’s stock valued at $360,000 after acquiring an additional 165 shares during the period. Bank of America Corp DE increased its position in Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after acquiring an additional 257 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Belite Bio by 28,200.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock worth $45,000 after acquiring an additional 282 shares during the period. Engineers Gate Manager LP increased its holdings in shares of Belite Bio by 11.4% in the second quarter. Engineers Gate Manager LP now owns 2,773 shares of the company’s stock valued at $427,000 after purchasing an additional 284 shares during the period. Finally, Persistent Asset Partners Ltd purchased a new position in Belite Bio in the 4th quarter valued at $108,000. 0.53% of the stock is owned by institutional investors and hedge funds.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BLTE shares. Mizuho boosted their price target on shares of Belite Bio from $220.00 to $234.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley raised their target price on Belite Bio from $201.00 to $206.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a research report on Friday, August 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Belite Bio in a research note on Wednesday. Finally, Truist Financial set a $217.00 price target on Belite Bio in a report on Friday, May 22nd. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Belite Bio currently has an average rating of “Moderate Buy” and a consensus target price of $218.73.

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.