Hendrik Peter Scholl Sells 10,000 Shares of Belite Bio (NASDAQ:BLTE) Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Hendrik Peter Scholl sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $145.24, for a total value of $1,452,400.00. Following the transaction, the insider directly owned 15,000 shares of the company’s stock, valued at $2,178,600. The trade was a 40.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hendrik Peter Scholl also recently made the following trade(s):

• On Tuesday, June 16th, Hendrik Peter Scholl sold 10,000 shares of Belite Bio stock. The stock was sold at an average price of $140.57, for a total value of $1,405,700.00.

Belite Bio Trading Down 1.3%

Shares of BLTE stock opened at $145.09 on Wednesday. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of -57.35 and a beta of -1.24. The firm has a 50-day moving average price of $150.16 and a 200 day moving average price of $159.81. Belite Bio, Inc. Sponsored ADR has a twelve month low of $56.10 and a twelve month high of $200.00.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.26. As a group, research analysts predict that Belite Bio, Inc. Sponsored ADR will post -3.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BLTE. Bank of America Corp DE boosted its holdings in Belite Bio by 104.0% in the 1st quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $602,000 after acquiring an additional 1,926 shares during the period. Amundi acquired a new stake in Belite Bio in the first quarter valued at approximately $671,000. Royal Bank of Canada raised its stake in shares of Belite Bio by 7.9% during the first quarter. Royal Bank of Canada now owns 2,257 shares of the company’s stock valued at $360,000 after purchasing an additional 165 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Belite Bio during the first quarter valued at approximately $3,125,000. Finally, Affinity Asset Advisors LLC lifted its position in shares of Belite Bio by 225.0% during the first quarter. Affinity Asset Advisors LLC now owns 65,000 shares of the company’s stock worth $10,364,000 after purchasing an additional 45,000 shares in the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on BLTE shares. Cantor Fitzgerald raised their price objective on Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Needham & Company LLC set a $217.00 target price on shares of Belite Bio in a research report on Tuesday, March 3rd. Benchmark restated a “buy” rating on shares of Belite Bio in a report on Friday, May 22nd. Truist Financial set a $217.00 price target on shares of Belite Bio in a research report on Friday, May 22nd. Finally, Morgan Stanley boosted their price objective 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. Six research 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. According to data from MarketBeat.com, Belite Bio currently has an average rating of “Moderate Buy” and a consensus target price of $203.00.

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.