Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Get Free Report) insider Hendrik Peter Scholl sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.24, for a total transaction of $1,452,400.00. Following the sale, the insider owned 15,000 shares in the company, valued at approximately $2,178,600. The trade was a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Hendrik Peter Scholl also recently made the following trade(s):
- On Tuesday, June 16th, Hendrik Peter Scholl sold 10,000 shares of Belite Bio stock. The stock was sold at an average price of $140.57, for a total transaction of $1,405,700.00.
Belite Bio Stock Performance
BLTE stock opened at $146.12 on Monday. The stock has a market capitalization of $5.86 billion, a PE ratio of -57.75 and a beta of -1.24. Belite Bio, Inc. Sponsored ADR has a 12-month low of $56.10 and a 12-month high of $200.00. The stock’s 50 day simple moving average is $151.39 and its 200 day simple moving average is $159.89.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on BLTE. HC Wainwright reissued a “buy” rating and issued a $200.00 target price on shares of Belite Bio in a research report on Monday, June 15th. Morgan Stanley increased their target price on Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.00.
Get Our Latest Stock Analysis on Belite Bio
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of BLTE. 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. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Belite Bio in the fourth quarter worth about $103,000. Persistent Asset Partners Ltd purchased a new stake in shares of Belite Bio during the fourth quarter worth about $108,000. Bank of America Corp DE grew its position in shares of Belite Bio by 28.1% during the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after purchasing an additional 257 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in Belite Bio during the 4th quarter valued at approximately $211,000. Institutional investors own 0.53% of the company’s stock.
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.
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