Belite Bio (NASDAQ:BLTE) Shares Up 5.5% – Should You Buy?

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) traded up 5.5% during mid-day trading on Monday . The company traded as high as $158.94 and last traded at $163.4850. 75,031 shares traded hands during trading, a decline of 1% from the average session volume of 75,671 shares. The stock had previously closed at $154.93.

Wall Street Analyst Weigh In

BLTE has been the subject of several analyst reports. BTIG Research set a $187.00 price target on shares of Belite Bio in a report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a research report on Wednesday, October 8th. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a report on Wednesday, December 3rd. Maxim Group set a $200.00 price objective on Belite Bio in a research note on Tuesday, December 2nd. Finally, Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a research note on Saturday. Four equities research 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 company has a consensus rating of “Moderate Buy” and an average target price of $175.33.

Belite Bio Price Performance

The business has a 50 day moving average of $126.91 and a 200 day moving average of $87.90. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of -88.23 and a beta of -1.45.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings results on Monday, December 1st. The company reported $0.95 EPS for the quarter. As a group, equities analysts predict that Belite Bio, Inc. Sponsored ADR will post -1.17 EPS for the current year.

Institutional Investors Weigh In On Belite Bio

Several large investors have recently made changes to their positions in BLTE. Bank of America Corp DE lifted its position in Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after acquiring an additional 257 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Belite Bio by 11.1% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock worth $130,000 after buying an additional 176 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in Belite Bio during the 2nd quarter worth approximately $147,000. BNP Paribas Financial Markets acquired a new stake in shares of Belite Bio in the second quarter valued at approximately $190,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Belite Bio in the third quarter worth $224,000. 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.