Artia Global Partners LP Makes New Investment in Belite Bio, Inc. Sponsored ADR $BLTE

Artia Global Partners LP purchased a new position in Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,989 shares of the company’s stock, valued at approximately $2,878,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BLTE. Darwin Global Management Ltd. bought a new position in Belite Bio in the fourth quarter worth approximately $486,915,000. RA Capital Management L.P. bought a new position in Belite Bio in the third quarter worth approximately $64,750,000. Vestal Point Capital LP bought a new position in Belite Bio in the third quarter worth approximately $23,125,000. Eventide Asset Management LLC boosted its holdings in Belite Bio by 96.1% in the fourth quarter. Eventide Asset Management LLC now owns 383,091 shares of the company’s stock worth $61,279,000 after acquiring an additional 187,779 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Belite Bio by 1,876.6% in the third quarter. Marshall Wace LLP now owns 187,500 shares of the company’s stock worth $13,875,000 after acquiring an additional 178,014 shares in the last quarter. Institutional investors own 0.53% of the company’s stock.

Belite Bio Stock Up 7.3%

BLTE stock opened at $148.34 on Thursday. Belite Bio, Inc. Sponsored ADR has a twelve month low of $56.10 and a twelve month high of $200.00. The stock’s 50 day moving average is $152.52 and its 200-day moving average is $159.87. The firm has a market capitalization of $5.95 billion, a PE ratio of -58.63 and a beta of -1.24.

Belite Bio (NASDAQ:BLTE) last posted its earnings results on Friday, May 15th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.26. On average, equities research analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BLTE. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Benchmark restated a “buy” rating on shares of Belite Bio in a report on Friday, May 22nd. Truist Financial set a $217.00 target price on Belite Bio in a report on Friday, May 22nd. Mizuho dropped their target price on Belite Bio from $223.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. Finally, Morgan Stanley raised 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. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.00.

Insider Buying and Selling

In related news, insider Hendrik Peter Scholl sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $140.57, for a total transaction of $1,405,700.00. Following the completion of the sale, the insider directly owned 25,000 shares of the company’s stock, valued at approximately $3,514,250. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nathan L. Mata sold 666 shares of the 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 of the company’s stock, valued at $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 36,166 shares of company stock valued at $5,954,051 over the last ninety days. 13.29% of the stock is currently owned by company insiders.

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.