Nathan Mata Sells 1,000 Shares of Belite Bio (NASDAQ:BLTE) Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $168.30, for a total value of $168,300.00. Following the completion of the sale, the insider directly owned 15,666 shares in the company, valued at approximately $2,636,587.80. This represents a 6.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Belite Bio Price Performance

Shares of BLTE stock opened at $165.45 on Friday. The stock’s fifty day simple moving average is $170.59 and its 200 day simple moving average is $145.17. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of -71.93 and a beta of -1.22. Belite Bio, Inc. Sponsored ADR has a one year low of $53.60 and a one year high of $200.00.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.18. On average, research analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen raised Belite Bio from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Needham & Company LLC set a $217.00 price target on Belite Bio in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Belite Bio in a research note on Tuesday, April 7th. Bank of America assumed coverage on Belite Bio in a research note on Monday, January 26th. They issued a “buy” rating and a $195.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price target on Belite Bio from $200.00 to $266.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.33.

Hedge Funds Weigh In On Belite Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Darwin Global Management Ltd. acquired a new position in Belite Bio in the fourth quarter worth $486,915,000. RA Capital Management L.P. acquired a new position in Belite Bio in the third quarter worth $64,750,000. RTW Investments LP boosted its stake in Belite Bio by 128.9% in the fourth quarter. RTW Investments LP now owns 715,332 shares of the company’s stock worth $114,425,000 after purchasing an additional 402,832 shares in the last quarter. Millennium Management LLC boosted its stake in Belite Bio by 2,594.6% in the fourth quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock worth $89,399,000 after purchasing an additional 538,141 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its stake in Belite Bio by 732.0% in the fourth quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock worth $66,262,000 after purchasing an additional 364,451 shares in the last quarter. Institutional investors and hedge funds 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.