Seven Fleet Capital Management LP bought a new position in Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 9,161 shares of the company’s stock, valued at approximately $1,465,000. Belite Bio accounts for 1.1% of Seven Fleet Capital Management LP’s portfolio, making the stock its 14th biggest position.
Several other hedge funds have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its position 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 buying an additional 282 shares during the period. Bank of America Corp DE increased its holdings in shares of Belite Bio by 28.1% in the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after buying an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Belite Bio in the fourth quarter worth about $103,000. Persistent Asset Partners Ltd bought a new stake in shares of Belite Bio in the 4th quarter valued at about $108,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Belite Bio in the 2nd quarter valued at about $147,000. 0.53% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on BLTE shares. HC Wainwright restated a “buy” rating and set a $200.00 target price on shares of Belite Bio in a report on Monday. Benchmark reissued a “buy” rating on shares of Belite Bio in a report on Friday, May 22nd. Needham & Company LLC set a $217.00 price objective on shares of Belite Bio in a research report on Tuesday, March 3rd. Cantor Fitzgerald increased their target price on shares of Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Finally, Mizuho reduced their price target on Belite Bio from $223.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.00.
Belite Bio Stock Down 1.5%
Shares of BLTE stock opened at $146.12 on Friday. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -57.75 and a beta of -1.24. The stock has a fifty day moving average of $152.05 and a 200 day moving average of $159.94. Belite Bio, Inc. Sponsored ADR has a 52 week low of $56.10 and a 52 week high of $200.00.
Belite Bio (NASDAQ:BLTE – Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.26. Equities research analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.17 earnings per share for the current year.
Insider Transactions at Belite Bio
In other Belite Bio news, insider Hendrik Peter Scholl sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $140.57, for a total value of $1,405,700.00. Following the completion of the sale, the insider directly owned 25,000 shares in the company, valued at $3,514,250. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nathan L. Mata sold 666 shares of Belite Bio stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $153.21, for a total value of $102,037.86. Following the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 36,166 shares of company stock worth $5,954,051 in the last ninety days. Insiders own 13.29% of the company’s stock.
Belite Bio 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.
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Want to see what other hedge funds are holding BLTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Free Report).
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