Hendrik Peter Scholl Sells 10,000 Shares of Belite Bio (NASDAQ:BLTE) Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Hendrik Peter Scholl sold 10,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $140.57, for a total value of $1,405,700.00. Following the completion of the transaction, the insider owned 25,000 shares of the company’s stock, valued at $3,514,250. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Belite Bio Trading Down 1.5%

Shares of BLTE opened at $146.12 on Friday. The business’s 50-day moving average price is $152.05 and its 200 day moving average price is $159.94. The stock has a market capitalization of $5.86 billion, a P/E ratio of -57.75 and a beta of -1.24. Belite Bio, Inc. Sponsored ADR has a 1-year low of $56.10 and a 1-year high of $200.00.

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

Institutional Investors Weigh In On Belite Bio

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its holdings in shares of Belite Bio by 28,200.0% during the 4th 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Belite Bio during the fourth quarter worth $103,000. Persistent Asset Partners Ltd purchased a new stake in shares of Belite Bio during the fourth quarter worth $108,000. Bank of America Corp DE boosted its position in Belite Bio by 28.1% during the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after purchasing an additional 257 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new stake in Belite Bio during the fourth quarter valued at $211,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $200.00 price target on shares of Belite Bio in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Wall Street Zen raised shares of Belite Bio from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. 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. Finally, Needham & Company LLC set a $217.00 target price on Belite Bio in a research report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Belite Bio presently has a consensus rating of “Moderate Buy” and an average target price of $203.00.

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.