Belite Bio, Inc. Sponsored ADR $BLTE Shares Sold by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lowered its holdings in Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) by 90.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500 shares of the company’s stock after selling 4,500 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Belite Bio were worth $80,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BLTE. RA Capital Management L.P. bought a new stake in shares of Belite Bio in the 3rd quarter worth approximately $64,750,000. Vestal Point Capital LP bought a new stake in Belite Bio in the third quarter valued at $23,125,000. Marshall Wace LLP lifted its stake in Belite Bio by 1,876.6% in the third quarter. Marshall Wace LLP now owns 187,500 shares of the company’s stock valued at $13,875,000 after buying an additional 178,014 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Belite Bio during the third quarter valued at $1,535,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Belite Bio by 250.9% during the third quarter. BNP Paribas Financial Markets now owns 11,549 shares of the company’s stock valued at $855,000 after acquiring an additional 8,258 shares during the period. 0.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLTE has been the topic of a number of analyst reports. Cantor Fitzgerald increased their price objective on shares of Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Wall Street Zen upgraded shares of Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a research note on Tuesday, March 3rd. Morgan Stanley lifted 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. Finally, Bank of America initiated coverage on Belite Bio in a research report on Monday, January 26th. They set a “buy” rating and a $195.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $202.33.

Belite Bio Price Performance

BLTE stock opened at $161.26 on Monday. The company has a market capitalization of $6.45 billion, a P/E ratio of -70.11 and a beta of -1.22. The company has a 50-day simple moving average of $169.37 and a 200 day simple moving average of $149.27. Belite Bio, Inc. Sponsored ADR has a fifty-two week low of $56.10 and a fifty-two week high of $200.00.

Belite Bio (NASDAQ:BLTE) last announced its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.18. Equities analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current year.

Insider Activity at Belite Bio

In other Belite Bio news, Director Wan-Shan Chen sold 1,100 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $180.43, for a total transaction of $198,473.00. Following the completion of the transaction, the director directly owned 9,096 shares of the company’s stock, valued at approximately $1,641,191.28. This trade represents a 10.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Hao-Yuan Chuang sold 6,200 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $181.50, for a total transaction of $1,125,300.00. Following the sale, the chief financial officer directly owned 93,800 shares of the company’s stock, valued at approximately $17,024,700. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 20,500 shares of company stock valued at $3,657,013. Insiders own 13.29% of the company’s stock.

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.