Belite Bio (NASDAQ:BLTE) Insider Sells $161,630.00 in Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of Belite Bio stock in a transaction on Friday, April 17th. The shares were sold at an average price of $161.63, for a total value of $161,630.00. Following the transaction, the insider owned 13,666 shares in the company, valued at $2,208,835.58. This trade represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Belite Bio Stock Performance

NASDAQ BLTE opened at $167.42 on Thursday. The company has a market capitalization of $6.69 billion, a PE ratio of -72.79 and a beta of -1.22. The business’s fifty day moving average is $169.85 and its 200 day moving average is $147.59. Belite Bio, Inc. Sponsored ADR has a fifty-two week low of $56.00 and a fifty-two week high of $200.00.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.18. On average, sell-side analysts forecast that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current year.

Wall Street Analyst Weigh In

BLTE has been the topic of several analyst reports. Morgan Stanley lifted their target price on Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Mizuho set a $223.00 price target on Belite Bio in a report on Thursday, February 19th. HC Wainwright reissued a “buy” rating and set a $200.00 price target on shares of Belite Bio in a report on Wednesday. Finally, Benchmark reissued a “buy” rating on shares of Belite Bio in a report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.33.

Institutional Investors Weigh In On Belite Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in Belite Bio by 28,200.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock valued at $45,000 after acquiring an additional 282 shares during the period. Bank of America Corp DE raised its holdings 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 valued at $87,000 after acquiring an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Belite Bio during the fourth quarter valued at about $103,000. Persistent Asset Partners Ltd bought a new stake in Belite Bio during the fourth quarter valued at about $108,000. Finally, GAMMA Investing LLC raised its holdings in Belite Bio by 11.1% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after acquiring an additional 176 shares during the period. 0.53% of the stock is owned by institutional investors.

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.