Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Short Interest Update

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 792,323 shares, a growth of 16.2% from the February 12th total of 681,671 shares. Based on an average daily volume of 155,304 shares, the short-interest ratio is currently 5.1 days. Currently, 2.3% of the company’s shares are sold short. Currently, 2.3% of the company’s shares are sold short. Based on an average daily volume of 155,304 shares, the short-interest ratio is currently 5.1 days.

Belite Bio Stock Performance

Shares of NASDAQ:BLTE opened at $165.38 on Tuesday. The business’s 50 day simple moving average is $171.33 and its two-hundred day simple moving average is $130.15. The firm has a market cap of $6.51 billion, a P/E ratio of -71.90 and a beta of -1.46. Belite Bio has a 52-week low of $49.00 and a 52-week high of $200.00.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.18. On average, equities analysts forecast that Belite Bio will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BLTE shares. Maxim Group set a $200.00 price target on Belite Bio in a report on Tuesday, December 2nd. Bank of America initiated coverage on shares of Belite Bio in a research note on Monday, January 26th. They issued a “buy” rating and a $195.00 price objective for the company. Morgan Stanley boosted their target price on shares of Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Needham & Company LLC set a $217.00 target price on shares of Belite Bio in a research note on Tuesday, March 3rd. Finally, Cantor Fitzgerald raised their price target 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. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average 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 bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new position in Belite Bio during the second quarter worth $147,000. Marshall Wace LLP acquired a new position in shares of Belite Bio during the second quarter valued at about $547,000. BNP Paribas Financial Markets acquired a new position in shares of Belite Bio during the second quarter valued at about $190,000. GAMMA Investing LLC increased its position in shares of Belite Bio by 11.1% during 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 in the last quarter. Finally, High Net Worth Advisory Group LLC acquired a new stake in shares of Belite Bio in the 3rd quarter worth about $259,000. Institutional investors own 0.53% of the company’s stock.

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.