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

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $170.38, for a total value of $170,380.00. Following the transaction, the insider directly owned 10,666 shares in the company, valued at approximately $1,817,273.08. The trade was a 8.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Belite Bio Price Performance

NASDAQ BLTE opened at $164.45 on Friday. The company has a market cap of $6.57 billion, a P/E ratio of -71.50 and a beta of -1.22. The stock has a 50-day moving average of $169.65 and a two-hundred day moving average of $147.70. 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 issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.18. On average, analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Belite Bio

A number of institutional investors and hedge funds have recently modified their holdings of BLTE. Caitong International Asset Management Co. Ltd increased its holdings in Belite Bio by 54,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 549 shares of the company’s stock valued at $88,000 after buying an additional 548 shares during the last quarter. Seven Fleet Capital Management LP purchased a new stake in Belite Bio during the 4th quarter worth about $1,465,000. ADAR1 Capital Management LLC acquired a new position in shares of Belite Bio during the 4th quarter worth about $6,373,000. Wellington Management Group LLP acquired a new position in shares of Belite Bio during the 4th quarter worth about $991,000. Finally, Squadron Capital Management LLC purchased a new position in shares of Belite Bio in the 4th quarter valued at about $4,159,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho set a $223.00 price target on shares of Belite Bio in a research note on Thursday, February 19th. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Belite Bio in a research note on Wednesday. Needham & Company LLC set a $217.00 price objective on Belite Bio in a research note on Tuesday, March 3rd. Benchmark reissued a “buy” rating on shares of Belite Bio in a research note on Tuesday, March 3rd. Finally, Bank of America started coverage on Belite Bio in a report on Monday, January 26th. They set a “buy” rating and a $195.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Belite Bio currently has a consensus rating of “Moderate Buy” and an average 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.