SmartHarvest Portfolios LLC Acquires New Holdings in Belite Bio, Inc. Sponsored ADR $BLTE

SmartHarvest Portfolios LLC bought a new position in Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,184 shares of the company’s stock, valued at approximately $669,000.

Several other hedge funds also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Belite Bio during the 4th quarter valued at $103,000. Bank of America Corp DE increased its position in Belite Bio by 28.1% during the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after buying an additional 257 shares during the last quarter. Independent Advisor Alliance acquired a new position in Belite Bio during the fourth quarter worth $211,000. Yeomans Consulting Group Inc. bought a new position in Belite Bio during the fourth quarter valued at about $384,000. Finally, EverSource Wealth Advisors LLC bought a new position in Belite Bio during the second quarter valued at about $147,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nathan L. Mata sold 666 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $153.21, for a total value of $102,037.86. Following the completion of the transaction, the insider owned 440 shares of the company’s stock, valued at $67,412.40. This represents a 60.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 26,166 shares of company stock valued at $4,548,351 over the last quarter. Insiders own 13.29% of the company’s stock.

Belite Bio Trading Up 0.2%

Shares of NASDAQ BLTE opened at $136.85 on Friday. The business has a fifty day simple moving average of $154.70 and a 200 day simple moving average of $159.55. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of -54.09 and a beta of -1.24. Belite Bio, Inc. Sponsored ADR has a one year low of $56.10 and a one year high of $200.00.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.26. On average, research analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BLTE shares. HC Wainwright reiterated a “buy” rating and set a $200.00 price target on shares of Belite Bio in a research note on Thursday, May 21st. Needham & Company LLC set a $217.00 price objective on Belite Bio in a research note on Tuesday, March 3rd. Benchmark restated a “buy” rating on shares of Belite Bio in a report on Friday, May 22nd. Cantor Fitzgerald increased their price target on Belite Bio from $200.00 to $266.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Finally, Morgan Stanley lifted their price target on shares of Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Belite Bio presently has a consensus rating of “Moderate Buy” and an average target price of $203.00.

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.