Belite Bio (NASDAQ:BLTE) CFO Sells $3,528,096.04 in Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) CFO Hao-Yuan Chuang sold 17,962 shares of Belite Bio stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $196.42, for a total transaction of $3,528,096.04. Following the sale, the chief financial officer directly owned 26,038 shares of the company’s stock, valued at approximately $5,114,383.96. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hao-Yuan Chuang also recently made the following trade(s):

• On Friday, September 4th, Hao-Yuan Chuang sold 49,433 shares of Belite Bio stock. The shares were sold at an average price of $187.64, for a total value of $9,275,608.12.
• On Wednesday, August 12th, Hao-Yuan Chuang sold 367 shares of Belite Bio stock. The shares were sold at an average price of $180.35, for a total value of $66,188.45.

Belite Bio Price Performance

Belite Bio stock opened at $173.79 on Friday. The stock has a market cap of $7.00 billion, a PE ratio of -63.66 and a beta of -1.23. The stock’s fifty day moving average is $161.66 and its two-hundred day moving average is $158.79. Belite Bio, Inc. Sponsored ADR has a 1-year low of $64.80 and a 1-year high of $200.00.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.54) earnings per share (EPS) for the quarter. On average, research analysts expect that Belite Bio, Inc. Sponsored ADR will post -3.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLTE. EverSource Wealth Advisors LLC purchased a new stake in Belite Bio in the second quarter valued at approximately $147,000. Marshall Wace LLP purchased a new position in shares of Belite Bio during the second quarter worth approximately $547,000. BNP Paribas Financial Markets purchased a new position in shares of Belite Bio during the second quarter worth approximately $190,000. JPMorgan Chase & Co. increased its holdings in shares of Belite Bio by 45.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company’s stock valued at $726,000 after acquiring an additional 3,052 shares during the period. Finally, UBS Group AG raised its position in Belite Bio by 380.7% in the 3rd quarter. UBS Group AG now owns 11,334 shares of the company’s stock valued at $839,000 after purchasing an additional 8,976 shares during the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BLTE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research note on Monday, July 6th. Benchmark restated a “buy” rating on shares of Belite Bio in a research report on Friday, August 14th. UBS Group restated a “buy” rating on shares of Belite Bio in a report on Thursday, September 3rd. Truist Financial set a $217.00 target price on shares of Belite Bio in a research report on Friday, May 22nd. Finally, Mizuho boosted their price target on shares of Belite Bio from $220.00 to $234.00 and gave the company an “outperform” rating in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Belite Bio currently has an average rating of “Moderate Buy” and a consensus target price of $218.73.

Belite Bio Company Profile

Belite Bio, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious retinal diseases. The company’s research centers on therapies designed to address the underlying biological processes that contribute to vision loss, including the accumulation of toxic vitamin A–derived compounds in the retina.

Belite Bio’s lead product candidate is tinlarebant, also known as LBS-008. Tinlarebant is an orally administered retinol-binding protein 4 antagonist intended to reduce the delivery of vitamin A to the retina and limit the formation of toxic bisretinoids.