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

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $155.50, for a total value of $155,500.00. Following the completion of the transaction, the insider directly owned 1,666 shares in the company, valued at approximately $259,063. This represents a 37.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Belite Bio Stock Performance

BLTE stock opened at $156.21 on Thursday. Belite Bio, Inc. Sponsored ADR has a fifty-two week low of $56.10 and a fifty-two week high of $200.00. The business’s 50-day moving average is $166.79 and its two-hundred day moving average is $152.51. The company has a market cap of $6.24 billion, a price-to-earnings ratio of -67.92 and a beta of -1.19.

Belite Bio (NASDAQ:BLTE) last issued its quarterly 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. Equities analysts predict that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current year.

Institutional Trading of Belite Bio

Several institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in shares of Belite Bio by 54,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 549 shares of the company’s stock worth $88,000 after purchasing an additional 548 shares in the last quarter. Seven Fleet Capital Management LP purchased a new stake in shares of Belite Bio during the fourth quarter worth about $1,465,000. ADAR1 Capital Management LLC purchased a new stake in shares of Belite Bio during the fourth quarter worth about $6,373,000. Wellington Management Group LLP purchased a new stake in shares of Belite Bio during the fourth quarter worth about $991,000. Finally, Squadron Capital Management LLC purchased a new stake in shares of Belite Bio during the fourth quarter worth about $4,159,000. Hedge funds and other institutional investors own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Morgan Stanley upped their price target on Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Mizuho set a $223.00 price target on Belite Bio in a research report on Thursday, February 19th. Cantor Fitzgerald upped their price target on Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Bank of America assumed coverage on Belite Bio in a research report on Monday, January 26th. They issued a “buy” rating and a $195.00 price target for the company. Six 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.33.

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.