Nathan Mata Sells 666 Shares of Belite Bio (NASDAQ:BLTE) Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 666 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $153.21, for a total transaction of $102,037.86. Following the completion of the transaction, the insider directly owned 440 shares in the company, valued at approximately $67,412.40. The trade was a 60.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Belite Bio Price Performance

Shares of Belite Bio stock traded down $1.12 on Friday, hitting $154.88. 59,090 shares of the company’s stock traded hands, compared to its average volume of 184,275. The firm’s 50-day moving average price is $166.19 and its two-hundred day moving average price is $152.99. The stock has a market capitalization of $6.19 billion, a PE ratio of -67.34 and a beta of -1.19. 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 posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.18. On average, analysts forecast that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Belite Bio

Several institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its stake in Belite Bio by 54,800.0% during the 4th 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 bought a new position in Belite Bio in the fourth quarter valued at approximately $1,465,000. ADAR1 Capital Management LLC acquired a new position in shares of Belite Bio in the fourth quarter valued at approximately $6,373,000. Wellington Management Group LLP acquired a new position in shares of Belite Bio in the fourth quarter valued at approximately $991,000. Finally, Squadron Capital Management LLC bought a new stake in shares of Belite Bio during the fourth quarter worth $4,159,000. 0.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BLTE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a research report on Tuesday, March 3rd. Cantor Fitzgerald boosted their price objective on shares of Belite Bio from $200.00 to $266.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Morgan Stanley upped their target price on shares of Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Finally, Wall Street Zen upgraded shares of Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.