Belite Bio (NASDAQ:BLTE) Insider Sells $159,560.00 in Stock
by Jessica Moore · The Cerbat GemBelite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Get Free Report) insider Nathan Mata sold 1,000 shares of Belite Bio stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $159.56, for a total value of $159,560.00. Following the transaction, the insider owned 8,666 shares in the company, valued at approximately $1,382,746.96. This represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Belite Bio Stock Performance
BLTE stock traded up $1.80 during midday trading on Monday, hitting $163.06. 70,091 shares of the company’s stock were exchanged, compared to its average volume of 194,545. The company has a market cap of $6.52 billion, a PE ratio of -70.90 and a beta of -1.22. The stock’s fifty day moving average price is $169.37 and its 200-day moving average price is $149.27. Belite Bio, Inc. Sponsored ADR has a one year low of $56.10 and a one year high of $200.00.
Belite Bio (NASDAQ:BLTE – Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.18. On average, analysts expect that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current year.
Wall Street Analysts Forecast Growth
BLTE has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $200.00 price target on shares of Belite Bio in a report on Wednesday, April 22nd. Benchmark restated a “buy” rating on shares of Belite Bio in a report on Tuesday, March 3rd. Needham & Company LLC set a $217.00 price target on Belite Bio in a report on Tuesday, March 3rd. Bank of America initiated coverage on Belite Bio in a report on Monday, January 26th. They issued a “buy” rating and a $195.00 price target on the stock. Finally, Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Six equities 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.33.
Read Our Latest Research Report on BLTE
Institutional Trading of Belite Bio
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Darwin Global Management Ltd. acquired a new stake in shares of Belite Bio in the fourth quarter valued at about $486,915,000. RA Capital Management L.P. acquired a new stake in shares of Belite Bio in the third quarter valued at about $64,750,000. RTW Investments LP increased its position in shares of Belite Bio by 128.9% in the fourth quarter. RTW Investments LP now owns 715,332 shares of the company’s stock valued at $114,425,000 after acquiring an additional 402,832 shares during the last quarter. Millennium Management LLC increased its position in shares of Belite Bio by 2,594.6% in the fourth quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock valued at $89,399,000 after acquiring an additional 538,141 shares during the last quarter. Finally, Perceptive Advisors LLC increased its position in shares of Belite Bio by 732.0% in the fourth quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock valued at $66,262,000 after acquiring an additional 364,451 shares during the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.
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.