Virtus ETF Advisers LLC Has $71,000 Stock Position in Belite Bio, Inc (NASDAQ:BLTE)

Virtus ETF Advisers LLC lowered its stake in Belite Bio, Inc (NASDAQ:BLTE) by 39.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,122 shares of the company’s stock after selling 721 shares during the period. Virtus ETF Advisers LLC’s holdings in Belite Bio were worth $71,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Belite Bio by 7,122.7% in the third quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock valued at $298,000 after buying an additional 6,268 shares in the last quarter. Advisors Preferred LLC acquired a new stake in Belite Bio in the fourth quarter valued at approximately $52,000. State Street Corp boosted its position in Belite Bio by 28.2% in the third quarter. State Street Corp now owns 20,086 shares of the company’s stock valued at $942,000 after buying an additional 4,415 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Belite Bio by 48.1% during the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock worth $81,000 after purchasing an additional 419 shares during the period. Finally, XTX Topco Ltd grew its stake in shares of Belite Bio by 30.9% in the fourth quarter. XTX Topco Ltd now owns 7,062 shares of the company’s stock worth $446,000 after purchasing an additional 1,668 shares during the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

Belite Bio Trading Up 3.3 %

Shares of BLTE stock opened at $60.18 on Tuesday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -54.22 and a beta of -1.52. The stock has a 50-day moving average of $61.09 and a 200-day moving average of $62.96. Belite Bio, Inc has a 1-year low of $38.80 and a 1-year high of $86.53.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sell-side analysts forecast that Belite Bio, Inc will post -1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of Belite Bio in a research report on Tuesday, March 18th. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of Belite Bio in a research note on Wednesday, March 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Belite Bio in a research note on Tuesday, March 18th.

Belite Bio Profile

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. The company’s lead product candidate is LBS-008 (Tinlarebant), an orally administered once-a-day tablet for maintaining the health and integrity of retinal tissues in autosomal recessive Stargardt disease and geographic atrophy patients.