JPMorgan Chase & Co. Purchases 3,052 Shares of Belite Bio, Inc. Sponsored ADR $BLTE

JPMorgan Chase & Co. grew its position in shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) by 45.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,809 shares of the company’s stock after acquiring an additional 3,052 shares during the quarter. JPMorgan Chase & Co.’s holdings in Belite Bio were worth $726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Belite Bio by 11.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after acquiring an additional 176 shares during the last quarter. Bank of America Corp DE raised its holdings in Belite Bio by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after buying an additional 257 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Belite Bio during the 2nd quarter valued at $147,000. Ameriprise Financial Inc. purchased a new stake in Belite Bio during the 3rd quarter valued at $224,000. Finally, BNP Paribas Financial Markets purchased a new stake in Belite Bio during the 2nd quarter valued at $190,000. 0.53% of the stock is currently owned by institutional investors.

Belite Bio Price Performance

BLTE stock opened at $172.76 on Monday. The business’s fifty day simple moving average is $172.04 and its two-hundred day simple moving average is $142.81. Belite Bio, Inc. Sponsored ADR has a twelve month low of $53.60 and a twelve month high of $200.00. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of -75.11 and a beta of -1.22.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.18. Research analysts expect that Belite Bio, Inc. Sponsored ADR will post -1.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BLTE. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Mizuho set a $223.00 price target on Belite Bio in a report on Thursday, February 19th. Morgan Stanley increased their price target on Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating 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. Finally, Benchmark restated a “buy” rating on shares of Belite Bio in a report on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.33.

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.