Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Get Free Report) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $203.00.
Several research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating on shares of Belite Bio in a research note on Friday, May 22nd. Morgan Stanley increased their target price on shares of Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Truist Financial set a $217.00 target price on shares of Belite Bio in a research note on Friday, May 22nd. Mizuho cut their target price on shares of Belite Bio from $223.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a research note on Tuesday, April 7th.
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Belite Bio Stock Performance
Belite Bio (NASDAQ:BLTE – Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.26. As a group, sell-side analysts anticipate that Belite Bio will post -3.03 earnings per share for the current year.
Insider Buying and Selling at Belite Bio
In other Belite Bio news, Director Wan-Shan Chen sold 1,100 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $180.43, for a total value of $198,473.00. Following the transaction, the director directly owned 9,096 shares of the company’s stock, valued at approximately $1,641,191.28. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yu-Hsin Lin sold 9,200 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $181.45, for a total transaction of $1,669,340.00. Following the completion of the transaction, the chief executive officer directly owned 170,934 shares in the company, valued at $31,015,974.30. This trade represents a 5.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,166 shares of company stock valued at $4,548,351 over the last ninety days. 13.29% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Belite Bio by 28,200.0% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Belite Bio in the fourth quarter valued at $103,000. Persistent Asset Partners Ltd bought a new position in shares of Belite Bio in the fourth quarter valued at $108,000. Bank of America Corp DE lifted its stake 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 valued at $87,000 after buying an additional 257 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new stake in shares of Belite Bio in the fourth quarter valued at about $211,000. 0.53% of the stock is owned by institutional investors.
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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