Belite Bio (NASDAQ:BLTE) CEO Sells 26,000 Shares of Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) CEO Yu-Hsin Lin sold 26,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $196.56, for a total transaction of $5,110,560.00. Following the transaction, the chief executive officer owned 70,134 shares in the company, valued at $13,785,539.04. This represents a 27.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Yu-Hsin Lin also recently made the following trade(s):

• On Friday, September 4th, Yu-Hsin Lin sold 74,435 shares of Belite Bio stock. The shares were sold at an average price of $187.71, for a total transaction of $13,972,193.85.
• On Wednesday, August 12th, Yu-Hsin Lin sold 365 shares of Belite Bio stock. The shares were sold at an average price of $180.35, for a total transaction of $65,827.75.

Belite Bio Price Performance

Shares of BLTE traded down $9.69 during trading hours on Wednesday, hitting $183.16. The stock had a trading volume of 214,121 shares, compared to its average volume of 214,515. Belite Bio, Inc. Sponsored ADR has a 12 month low of $64.80 and a 12 month high of $200.00. The firm has a market capitalization of $7.38 billion, a PE ratio of -67.09 and a beta of -1.23. The stock has a fifty day moving average price of $160.55 and a 200 day moving average price of $158.72.

Belite Bio (NASDAQ:BLTE) last announced its earnings results on Tuesday, June 30th. The company reported ($0.54) earnings per share (EPS) for the quarter. As a group, analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BLTE. Zacks Research downgraded Belite Bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Belite Bio in a research note on Monday, July 6th. Canaccord Genuity Group assumed coverage on Belite Bio in a research report on Friday, September 4th. They set a “buy” rating and a $303.00 price objective on the stock. Morgan Stanley boosted their price objective on Belite Bio from $201.00 to $206.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Finally, UBS Group reissued a “buy” rating on shares of Belite Bio in a report on Thursday, September 3rd. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.73.

Institutional Investors Weigh In On Belite Bio

Several large investors have recently made changes to their positions in BLTE. Darwin Global Management Ltd. bought a new position in Belite Bio during the fourth quarter valued at approximately $486,915,000. RA Capital Management L.P. bought a new stake in Belite Bio in the 3rd quarter worth approximately $64,750,000. RTW Investments LP increased its stake in Belite Bio by 128.9% in the 4th quarter. RTW Investments LP now owns 715,332 shares of the company’s stock worth $114,425,000 after acquiring an additional 402,832 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Belite Bio by 2,594.6% during the 4th quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock worth $89,399,000 after acquiring an additional 538,141 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in shares of Belite Bio by 732.0% during the 4th quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock worth $66,262,000 after acquiring an additional 364,451 shares in the last quarter. 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.