Insider Selling: Belite Bio (NASDAQ:BLTE) Insider Sells $155,780.00 in Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of Belite Bio stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $155.78, for a total transaction of $155,780.00. Following the transaction, the insider owned 3,666 shares of the company’s stock, valued at $571,089.48. The trade was a 21.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Belite Bio Stock Up 1.2%

Belite Bio stock opened at $156.21 on Thursday. Belite Bio, Inc. Sponsored ADR has a twelve month low of $56.10 and a twelve month high of $200.00. The company has a market capitalization of $6.24 billion, a P/E ratio of -67.92 and a beta of -1.19. The stock’s 50 day moving average is $166.79 and its 200 day moving average is $152.51.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.18. As a group, equities analysts expect that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current year.

Analyst Upgrades and Downgrades

BLTE has been the subject of several recent analyst reports. Needham & Company LLC set a $217.00 target price on shares of Belite Bio in a report on Tuesday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $200.00 price target on shares of Belite Bio in a report on Wednesday, April 22nd. Mizuho set a $223.00 price target on shares of Belite Bio in a research report on Thursday, February 19th. Cantor Fitzgerald boosted their price objective on shares of Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Finally, Bank of America assumed coverage on Belite Bio in a research note on Monday, January 26th. They set a “buy” rating and a $195.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.33.

Institutional Investors Weigh In On Belite Bio

A number of large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake in Belite Bio by 54,800.0% during the 4th 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 bought a new stake in shares of Belite Bio in the fourth quarter worth $1,465,000. ADAR1 Capital Management LLC purchased a new stake in Belite Bio during the fourth quarter valued at $6,373,000. Wellington Management Group LLP purchased a new stake in Belite Bio during the fourth quarter valued at $991,000. Finally, Squadron Capital Management LLC bought a new position in Belite Bio in the fourth quarter valued at about $4,159,000. Institutional investors 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.