Analysts Set Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Target Price at $205.80

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $214.6364.

BLTE has been the subject of a number of analyst reports. Truist Financial set a $217.00 price objective on shares of Belite Bio in a research note on Friday, May 22nd. Morgan Stanley raised their target price on shares of Belite Bio from $201.00 to $206.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a report on Monday, July 6th. Benchmark reissued a “buy” rating on shares of Belite Bio in a research report on Friday, August 14th. Finally, Cantor Fitzgerald upped their price target on shares of Belite Bio from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th.

Belite Bio Stock Performance

Shares of BLTE stock opened at $193.61 on Thursday. The stock’s 50 day simple moving average is $158.18 and its 200 day simple moving average is $158.56. Belite Bio has a twelve month low of $64.80 and a twelve month high of $200.00. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of -70.92 and a beta of -1.23.

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. On average, analysts forecast that Belite Bio will post -3.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Belite Bio news, CFO Hao-Yuan Chuang sold 367 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $180.35, for a total value of $66,188.45. Following the sale, the chief financial officer owned 93,433 shares of the company’s stock, valued at $16,850,641.55. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Hendrik Scholl sold 10,000 shares of Belite Bio stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $145.24, for a total value of $1,452,400.00. Following the completion of the transaction, the insider directly owned 15,000 shares in the company, valued at approximately $2,178,600. This represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 20,732 shares of company stock valued at $2,990,116. Insiders own 13.29% of the company’s stock.

Institutional Investors Weigh In On Belite Bio

Several hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its position 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 during the period. Persistent Asset Partners Ltd bought a new stake in Belite Bio in the 4th quarter valued at $108,000. Bank of America Corp DE grew its position in Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after purchasing an additional 257 shares during the last quarter. Independent Advisor Alliance acquired a new stake in Belite Bio in the 4th quarter worth $211,000. Finally, Brooklyn Investment Group bought a new position in shares of Belite Bio during the 4th quarter worth about $287,000. 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.