Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Short Interest Down 45.2% in December

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 294,199 shares, a decrease of 45.2% from the November 30th total of 537,302 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 362,897 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 362,897 shares, the short-interest ratio is presently 0.8 days. Currently, 0.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

BLTE has been the subject of several recent analyst reports. BTIG Research set a $187.00 price target on Belite Bio in a research note on Wednesday, December 3rd. Cantor Fitzgerald initiated coverage on Belite Bio in a research note on Monday, November 24th. They set an “overweight” rating and a $154.00 target price for the company. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday. Mizuho set a $194.00 price target on shares of Belite Bio and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Finally, Maxim Group set a $200.00 price objective on shares of Belite Bio in a report on Tuesday, December 2nd. Four 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $175.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BLTE. Bank of America Corp DE boosted its holdings 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 valued at $87,000 after purchasing an additional 257 shares during the last quarter. GAMMA Investing LLC grew its position in Belite Bio by 11.1% in the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock worth $130,000 after acquiring an additional 176 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in Belite Bio during the second quarter worth $147,000. BNP Paribas Financial Markets purchased a new position in shares of Belite Bio during the 2nd quarter worth $190,000. Finally, Ameriprise Financial Inc. purchased a new stake in Belite Bio in the 3rd quarter valued at about $224,000. Hedge funds and other institutional investors own 0.53% of the company’s stock.

Belite Bio Stock Down 0.0%

Shares of BLTE opened at $154.93 on Friday. Belite Bio has a 52-week low of $49.00 and a 52-week high of $162.00. The stock has a market cap of $5.81 billion, a PE ratio of -80.69 and a beta of -1.45. The firm’s fifty day moving average is $126.91 and its two-hundred day moving average is $87.53.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings results on Monday, December 1st. The company reported $0.95 earnings per share for the quarter. As a group, research analysts anticipate that Belite Bio will post -1.17 earnings per share for the current year.

About Belite Bio

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.