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 dated Friday, May 1st. The shares were sold at an average price of $155.78, for a total transaction of $155,780.00. Following the completion of the sale, the insider owned 3,666 shares of the company’s stock, valued at approximately $571,089.48. The trade was a 21.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Belite Bio Price Performance

Shares of Belite Bio stock opened at $154.38 on Wednesday. The stock’s 50 day simple moving average is $167.45 and its 200-day simple moving average is $152.03. The stock has a market cap of $6.17 billion, a P/E ratio of -67.12 and a beta of -1.19. Belite Bio, Inc. Sponsored ADR has a 1-year low of $56.10 and a 1-year high of $200.00.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BLTE. Bank of America started coverage on shares of Belite Bio in a research report on Monday, January 26th. They set a “buy” rating and a $195.00 price target on the stock. Cantor Fitzgerald raised their price objective on shares of Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Morgan Stanley lifted their target price on shares of Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Mizuho set a $223.00 target price on shares of Belite Bio in a report on Thursday, February 19th. Finally, HC Wainwright restated a “buy” rating and set a $200.00 price target on shares of Belite Bio in a report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Belite Bio currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.33.

Institutional Trading of Belite Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $88,000 after buying an additional 548 shares during the period. Seven Fleet Capital Management LP purchased a new position in Belite Bio during the fourth quarter worth about $1,465,000. ADAR1 Capital Management LLC purchased a new position in Belite Bio during the fourth quarter worth about $6,373,000. Wellington Management Group LLP acquired a new stake in shares of Belite Bio during the fourth quarter valued at about $991,000. Finally, Squadron Capital Management LLC purchased a new stake in shares of Belite Bio in the 4th quarter valued at approximately $4,159,000. 0.53% of the stock is owned by institutional investors and hedge funds.

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.