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

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $155.50, for a total transaction of $155,500.00. Following the transaction, the insider owned 1,666 shares in the company, valued at approximately $259,063. This trade represents a 37.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Belite Bio Stock Down 0.1%

Shares of BLTE opened at $156.00 on Friday. The company’s fifty day moving average is $166.19 and its 200-day moving average is $152.99. Belite Bio, Inc. Sponsored ADR has a 12 month low of $56.10 and a 12 month high of $200.00. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of -67.83 and a beta of -1.19.

Belite Bio (NASDAQ:BLTE) last announced its quarterly 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, research analysts predict that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current fiscal year.

Institutional Trading of Belite Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in Belite Bio by 54,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 549 shares of the company’s stock worth $88,000 after purchasing an additional 548 shares during the last quarter. Seven Fleet Capital Management LP bought a new position in shares of Belite Bio during the 4th quarter worth about $1,465,000. ADAR1 Capital Management LLC bought a new position in shares of Belite Bio during the 4th quarter worth about $6,373,000. Wellington Management Group LLP bought a new position in shares of Belite Bio during the 4th quarter worth about $991,000. Finally, Squadron Capital Management LLC bought a new position in shares of Belite Bio during the 4th quarter worth about $4,159,000. 0.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Belite Bio in a report on Tuesday, April 7th. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a report on Tuesday, March 3rd. Mizuho set a $223.00 price objective on shares of Belite Bio in a report on Thursday, February 19th. Cantor Fitzgerald upped 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, Morgan Stanley upped their price objective on shares of Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Belite Bio currently has an average rating of “Moderate Buy” and an average price target of $202.33.

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.