Belite Bio (NASDAQ:BLTE) Insider Nathan Mata Sells 1,000 Shares

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $168.30, for a total transaction of $168,300.00. Following the transaction, the insider directly owned 15,666 shares of the company’s stock, valued at $2,636,587.80. The trade was a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Belite Bio Stock Down 6.3%

BLTE opened at $158.05 on Friday. The firm has a 50 day moving average price of $171.04 and a 200-day moving average price of $144.52. Belite Bio, Inc. Sponsored ADR has a twelve month low of $53.60 and a twelve month high of $200.00. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of -68.72 and a beta of -1.22.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings data 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. As a group, analysts expect that Belite Bio, Inc. Sponsored ADR will post -1.17 earnings per share for the current year.

Analyst Ratings Changes

BLTE has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and set a $200.00 target price on shares of Belite Bio in a research report on Monday. Needham & Company LLC set a $217.00 target price on shares of Belite Bio in a research report on Tuesday, March 3rd. Cantor Fitzgerald boosted their target price on shares of Belite Bio from $200.00 to $266.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Finally, Wall Street Zen upgraded shares of Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Six 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 company has an average rating of “Moderate Buy” and a consensus price target of $202.33.

Hedge Funds Weigh In On Belite Bio

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position 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 worth $45,000 after purchasing 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 approximately $103,000. Persistent Asset Partners Ltd bought a new position in shares of Belite Bio in the fourth quarter worth approximately $108,000. Bank of America Corp DE boosted its position 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 purchasing an additional 257 shares during the period. Finally, Independent Advisor Alliance bought a new position in shares of Belite Bio in the fourth quarter worth approximately $211,000. 0.53% of the stock is currently 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.