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

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $159.56, for a total transaction of $159,560.00. Following the sale, the insider directly owned 8,666 shares in the company, valued at $1,382,746.96. This trade represents a 10.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Belite Bio Price Performance

Shares of NASDAQ:BLTE opened at $163.06 on Tuesday. The company’s 50-day moving average price is $169.13 and its two-hundred day moving average price is $149.87. Belite Bio, Inc. Sponsored ADR has a one year low of $56.10 and a one year high of $200.00. The stock has a market capitalization of $6.52 billion, a PE ratio of -70.90 and a beta of -1.22.

Belite Bio (NASDAQ:BLTE) last issued 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. On average, analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BLTE. Darwin Global Management Ltd. acquired a new position in Belite Bio in the 4th quarter valued at about $486,915,000. RA Capital Management L.P. acquired a new position in Belite Bio in the 3rd quarter valued at about $64,750,000. Millennium Management LLC grew its stake in Belite Bio by 2,594.6% in the 4th quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock valued at $89,399,000 after buying an additional 538,141 shares during the last quarter. RTW Investments LP grew its stake in Belite Bio by 128.9% in the 4th quarter. RTW Investments LP now owns 715,332 shares of the company’s stock valued at $114,425,000 after buying an additional 402,832 shares during the last quarter. Finally, Perceptive Advisors LLC grew its stake in Belite Bio by 732.0% in the 4th quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock valued at $66,262,000 after buying an additional 364,451 shares during the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BLTE shares. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a report on Tuesday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $200.00 target price on shares of Belite Bio in a report on Wednesday, April 22nd. Wall Street Zen raised shares of Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Mizuho set a $223.00 target price on shares of Belite Bio in a report on Thursday, February 19th. Finally, Needham & Company LLC set a $217.00 target price on shares of Belite Bio in a report on Tuesday, March 3rd. Six investment 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. Based on data from MarketBeat, the stock 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.