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 company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $161.63, for a total transaction of $161,630.00. Following the completion of the sale, the insider directly owned 13,666 shares in the company, valued at approximately $2,208,835.58. This represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Belite Bio Stock Performance

NASDAQ:BLTE opened at $165.23 on Wednesday. The firm’s fifty day moving average is $170.01 and its 200-day moving average is $147.45. Belite Bio, Inc. Sponsored ADR has a 52 week low of $54.62 and a 52 week high of $200.00. The firm has a market cap of $6.60 billion, a P/E ratio of -71.84 and a beta of -1.22.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.18. As a group, sell-side analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its stake in Belite Bio by 28,200.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock worth $45,000 after acquiring an additional 282 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Belite Bio during the fourth quarter worth $103,000. Persistent Asset Partners Ltd acquired a new position in Belite Bio during the fourth quarter worth $108,000. Bank of America Corp DE raised its holdings 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 worth $87,000 after buying an additional 257 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new position in Belite Bio during the fourth quarter worth $211,000. 0.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLTE has been the topic of several research analyst reports. 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 shares of Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. HC Wainwright reissued a “buy” rating and set a $200.00 target price on shares of Belite Bio in a research note on Monday, April 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a research note on Tuesday, April 7th. Finally, Benchmark reissued a “buy” rating on shares of Belite Bio in a research note on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.33.

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.