Belite Bio (NASDAQ:BLTE) Insider Nathan Mata Sells 1,000 Shares of Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $161.63, for a total value of $161,630.00. Following the completion of the transaction, the insider owned 13,666 shares in the company, valued at approximately $2,208,835.58. The trade was a 6.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Belite Bio Stock Performance

BLTE opened at $165.43 on Tuesday. Belite Bio, Inc. Sponsored ADR has a one year low of $53.60 and a one year high of $200.00. The company has a market cap of $6.61 billion, a P/E ratio of -71.93 and a beta of -1.22. The business’s 50-day simple moving average is $170.24 and its 200-day simple moving average is $146.82.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.18. As a group, analysts predict that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its stake in Belite Bio by 28,200.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock valued at $45,000 after purchasing an additional 282 shares during the period. Bank of America Corp DE grew its stake in shares of Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after purchasing an additional 257 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Belite Bio in the 4th quarter valued at approximately $103,000. Persistent Asset Partners Ltd purchased a new position in shares of Belite Bio in the 4th quarter valued at approximately $108,000. Finally, GAMMA Investing LLC grew its stake in shares of Belite Bio by 11.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after purchasing an additional 176 shares during the last quarter. 0.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLTE has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Bank of America assumed coverage on Belite Bio in a research note on Monday, January 26th. They set a “buy” rating and a $195.00 price target on the stock. Finally, Cantor Fitzgerald raised their price target on Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.33.

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.