Belite Bio (NASDAQ:BLTE) CEO Yu-Hsin Lin Sells 74,435 Shares of Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) CEO Yu-Hsin Lin sold 74,435 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $187.71, for a total value of $13,972,193.85. Following the completion of the transaction, the chief executive officer directly owned 96,134 shares of the company’s stock, valued at approximately $18,045,313.14. This trade represents a 43.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Yu-Hsin Lin also recently made the following trade(s):

• On Tuesday, September 8th, Yu-Hsin Lin sold 26,000 shares of Belite Bio stock. The shares were sold at an average price of $196.56, for a total transaction of $5,110,560.00.
• On Wednesday, August 12th, Yu-Hsin Lin sold 365 shares of Belite Bio stock. The shares were sold at an average price of $180.35, for a total transaction of $65,827.75.

Belite Bio Stock Down 5.0%

Shares of Belite Bio stock opened at $183.16 on Thursday. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of -67.09 and a beta of -1.23. The business has a 50-day moving average price of $160.55 and a 200-day moving average price of $158.72. Belite Bio, Inc. Sponsored ADR has a twelve month low of $64.80 and a twelve month high of $200.00.

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

More Belite Bio News

Here are the key news stories impacting Belite Bio this week:

• Positive Sentiment: Belite Bio submitted a New Drug Application in Japan for tinlarebant, its once-daily oral treatment candidate for Stargardt disease type 1. The application was filed under Japan’s Sakigake designation system, which is intended to support expedited development and review of innovative therapies. Stargardt disease affects an estimated 9,500 people in Japan and currently has no approved treatments, strengthening the potential commercial opportunity. Belite Bio Japan NDA announcement
• Positive Sentiment: A bullish Seeking Alpha analysis argues that Belite Bio remains on track for a potential blockbuster launch in 2027, highlighting investor optimism around tinlarebant’s development and future revenue potential. Belite Bio potential 2027 launch analysis
• Positive Sentiment: Technical momentum has improved after BLTE’s 50-day moving average crossed above its 200-day moving average, a bullish “golden cross” that may attract momentum-focused investors. Belite Bio golden cross analysis

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLTE. Engineers Gate Manager LP increased its position in Belite Bio by 11.4% during the 2nd quarter. Engineers Gate Manager LP now owns 2,773 shares of the company’s stock valued at $427,000 after buying an additional 284 shares in the last quarter. Bank of America Corp DE lifted its position in Belite Bio by 104.0% during the first quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock valued at $602,000 after purchasing an additional 1,926 shares during the period. Amundi acquired a new position in shares of Belite Bio in the 1st quarter valued at about $671,000. Royal Bank of Canada lifted its holdings in Belite Bio by 7.9% in the first quarter. Royal Bank of Canada now owns 2,257 shares of the company’s stock valued at $360,000 after acquiring an additional 165 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Belite Bio during the first quarter worth $3,125,000. 0.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BLTE. Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a research report on Monday, July 6th. Morgan Stanley boosted their price objective on shares of Belite Bio from $201.00 to $206.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. HC Wainwright set a $245.00 price target on Belite Bio in a report on Tuesday. Cantor Fitzgerald lifted their price objective on shares of Belite Bio from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Belite Bio in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.73.

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.