Hao-Yuan Chuang Sells 17,962 Shares of Belite Bio (NASDAQ:BLTE) Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) CFO Hao-Yuan Chuang sold 17,962 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $196.42, for a total transaction of $3,528,096.04. Following the sale, the chief financial officer owned 26,038 shares of the company’s stock, valued at approximately $5,114,383.96. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hao-Yuan Chuang also recently made the following trade(s):

• On Friday, September 4th, Hao-Yuan Chuang sold 49,433 shares of Belite Bio stock. The stock was sold at an average price of $187.64, for a total transaction of $9,275,608.12.
• On Wednesday, August 12th, Hao-Yuan Chuang sold 367 shares of Belite Bio stock. The shares were sold at an average price of $180.35, for a total transaction of $66,188.45.

Belite Bio Stock Performance

Shares of BLTE traded down $9.69 on Wednesday, hitting $183.16. 214,121 shares of the stock traded hands, compared to its average volume of 214,515. Belite Bio, Inc. Sponsored ADR has a one year low of $64.80 and a one year high of $200.00. The company has a market capitalization of $7.38 billion, a PE ratio of -67.09 and a beta of -1.23. The business has a 50 day simple moving average of $160.55 and a 200 day simple moving average of $158.72.

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

Institutional Trading of Belite Bio

Hedge funds have recently bought and sold shares of the stock. Darwin Global Management Ltd. purchased a new stake in Belite Bio in the fourth quarter worth about $486,915,000. RA Capital Management L.P. bought a new position in shares of Belite Bio during the 3rd quarter valued at approximately $64,750,000. Millennium Management LLC grew its stake in shares of Belite Bio by 2,594.6% during the 4th quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock valued at $89,399,000 after acquiring an additional 538,141 shares during the period. RTW Investments LP increased its holdings in Belite Bio by 128.9% in the 4th quarter. RTW Investments LP now owns 715,332 shares of the company’s stock worth $114,425,000 after acquiring an additional 402,832 shares in the last quarter. Finally, Perceptive Advisors LLC raised its stake in Belite Bio by 732.0% during the 4th quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock worth $66,262,000 after acquiring an additional 364,451 shares during the period. Institutional investors own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a research report on Monday, July 6th. Truist Financial set a $217.00 price target on shares of Belite Bio in a report on Friday, May 22nd. Morgan Stanley increased their price objective on shares of Belite Bio from $201.00 to $206.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Mizuho raised their target price on shares of Belite Bio from $220.00 to $234.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Cantor Fitzgerald increased their price target on Belite Bio from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Belite Bio has a consensus rating of “Moderate Buy” and an average 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.