Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $203.00.

Several research firms have commented on BLTE. Truist Financial set a $217.00 price target on shares of Belite Bio in a research note on Friday, May 22nd. Wall Street Zen raised shares of Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research report on Monday, July 6th. HC Wainwright reiterated a “buy” rating and issued a $200.00 target price on shares of Belite Bio in a research report on Monday, June 15th. Finally, Benchmark reissued a “buy” rating on shares of Belite Bio in a research note on Friday, May 22nd.

Belite Bio Trading Up 5.4%

Shares of NASDAQ BLTE opened at $161.08 on Wednesday. The stock’s 50-day moving average is $146.01 and its 200 day moving average is $159.55. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of -63.67 and a beta of -1.23. Belite Bio has a 1-year low of $59.12 and a 1-year high of $200.00.

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

Insider Activity

In other news, insider Nathan L. Mata sold 1,000 shares of Belite Bio stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $155.50, for a total value of $155,500.00. Following the transaction, the insider owned 1,666 shares in the company, valued at approximately $259,063. The trade was a 37.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hendrik Peter Scholl sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.24, for a total value of $1,452,400.00. Following the completion of the sale, the insider directly owned 15,000 shares of the company’s stock, valued at approximately $2,178,600. This trade represents a 40.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 25,666 shares of company stock worth $3,749,438. Company insiders own 13.29% of the company’s stock.

Institutional Trading of Belite Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake 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 worth $360,000 after buying an additional 165 shares during the period. Bank of America Corp DE boosted its position in Belite Bio by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after buying an additional 257 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Belite Bio by 28,200.0% in 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 last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Belite Bio in the 4th quarter worth $103,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Belite Bio in the fourth quarter valued at about $108,000. Institutional investors own 0.53% of the company’s stock.

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.